Business Services Industry
NRT Inc. Acquires Clearwater, Fla., Realty Company for $170 Million.
Knight Ridder/Tribune Business News, April, 2002
By Elizabeth McCormick, The Ledger, Lakeland, Fla. Knight Ridder/Tribune Business News
Apr. 18--LAKELAND, Fla.--Arvida Realty Services' signs soon will be replaced with the Coldwell Banker Residential Real Estate name.
Arvida Realty, based in Clearwater, has been bought by NRT Inc., the largest residential real estate company in the country. NRT, which was a joint venture between New York-based Cendant Corp. and Apollo Management LP, does business under the Coldwell Banker and ERA brand names.
Cendant is the world's largest lodging franchiser. Its brands include Super 8, Days Inn, Ramada and Howard Johnson. It also owns the Century 21 brand and in another transaction announced Wednesday, acquired Apollo's interest in NRT.
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