Prudential York Simpson Underwood Realty Becomes Exclusive Marketing and Sales Team for Kane Realty Corporation’s Residential Properties
(RALEIGH, NC) — Kane Realty Corporation announced today that Prudential York Simpson Underwood Realty has been selected to serve as the exclusive marketing and sales firm for Kane’s residential properties. With this announcement, Prudential York Simpson Underwood becomes the exclusive on-site sales team for Kane’s Ramblewood at North Hills development and will staff the Kane Residential office located at North Hills beginning January 1, 2010.
"The appeal and vision of North Hills is attracting more people than ever to this area and we realized we need a sales team with a wide network to market our vision to the increasing number of interested buyers throughout the Triangle and the country who want to be a part of the North Hills lifestyle,” said John Kane, Kane Realty Chairman and CEO. “Prudential York Simpson Underwood is the ideal partner to lead our residential marketing and sales effort.”
Ramblewood at North Hills is a neighborhood of townhomes, single-family garden homes and condominium residences in Midtown with tree-lined streets and an on-site model open to the public seven days a week.
"We have been close friends with John Kane for many years and have always admired the innovation and quality of their developments.” said Sam Simpson, co-CEO of Prudential York Simpson Underwood Realty. "We are delighted to partner with John's team and look forward to marketing their exceptional residential properties," continued Speck Underwood, co-CEO of Prudential York Simpson Underwood Realty.
About Kane Realty Corporation
Focused on the development and management of retail and mixed-use properties of the highest quality, Kane Realty Corporation is dedicated to the goal of creating irresistible places where people will naturally want to gather. Through concern for smart growth and meticulous attention to detail in every aspect of the property from design to management, Kane’s mission is to build places that improve the quality of life of their businesses, their employees, residents and visitors. For more information, please visit www.kanerealtycorp.com.
About Prudential York Simpson Underwood Realty
Prudential York Simpson Underwood Realty has over 400 sales associates and 5 sales offices in the Triangle. A full-service residential real estate firm, Prudential York Simpson Underwood Realty offers residential real estate, mortgage services, title insurance and relocation services. Prudential York Simpson Underwood Realty is owned by HomeServices of America, Inc., a Berkshire Hathaway affiliate, and the second largest home services provider in the United States. Find out more about Prudential York Simpson Underwood Realty and search homes for sale in the Triangle at www.PruYSU.com.
About North Hills
North Hills, a mixed-use multi-block district known as Raleigh's Midtown, is the recipient of numerous awards and accolades for its pedestrian-friendly and sustainable design which has made it one of America's premier in-fill developments. Centrally located at the corner of one of Raleigh's main thoroughfares and the I-440 beltline, North Hills is a 100-acre destination of sophisticated living, luxury hotel rooms, class A office space, a continuing care retirement community, green space, a 14-screen movie complex and entertainment venues, premier dining, salons and day spas, high-end boutiques, national retail, and a state-of-the-art 60,000 square foot athletic club. For more information, please visit www.NorthHillsRaleigh.com.
HomeServices of America, Inc., a Berkshire Hathaway Affiliate, Announces Acquisition of Raleigh-Based York Simpson Underwood
HomeServices to Merge York Simpson Underwood With Prudential Carolinas Realty, More Than Doubling its Existing Market Share and Number of Sales Agents in North Carolina’s Triangle Area
MINNEAPOLIS (December 16, 2008) – HomeServices of America, Inc., a Berkshire Hathaway affiliate, today announced the acquisition of Raleigh-based York Simpson Underwood, one of North Carolina’s most respected residential real estate brokerage firms and the company’s 20th acquisition.
One of the country’s long-standing residential real estate firms, York Simpson Underwood has 250 agents throughout six offices in Raleigh, Cary, Chapel Hill and Pinehurst/Southern Pines, North Carolina. The company’s volume of closings for 2007 was more than $717 million.
HomeServices will merge York Simpson Underwood with its existing residential real estate firm, Prudential Carolinas Realty. The new, Raleigh-based organization will be called Prudential York Simpson Underwood Realty.
The merger doubles HomeServices’ market share, as well as the number of sales agents of the combined companies within North Carolina’s renowned Triangle Area (Raleigh-Durham). Prudential Carolinas Realty will continue to operate as the HomeServices brand in the Triad and Charlotte markets.
Both companies are leaders in sales of high-end homes among the top general brokerage firms in the Triangle. Among those firms, York Simpson Underwood ranks first in average home sales price and Prudential Carolinas Realty ranks No. 2. The combined companies will rank No. 1 in active listing volume within the Triangle.
The HomeServices model focuses on companies that are market-leaders, such as York Simpson Underwood, with long-standing traditions for excellence. The average age of a HomeServices operating company is more than 55 years.
“York Simpson Underwood is a gem among national residential real estate firms,” says Ron Peltier, chairman and CEO of HomeServices. “This transaction exemplifies our vision of joining with companies that share our core values and strengthening those brands through our affiliation, leaving in place the people who built the companies and giving them the freedom to operate in local markets they know best”
“This merger creates the premier Triangle real estate company,” adds Smedes York, chairman of the combined company. “We are combining two strong firms within the Triangle into an even stronger organization. By joining forces with HomeServices, we will be unmatched in our ability to serve the real estate and corporate relocation needs of new and existing clients in the Triangle. Our commitment is to make this merger seamless for our customers, who will continue to be served by their existing agents.”
York, a former city council member and mayor of Raleigh, whose family has been an integral part of the city’s development since 1910, will be joined in heading the newly named Prudential York Simpson Underwood Realty by Sam Simpson and Speck Underwood, who will serve as co-chief executive officers of the combined company.
“This combination of two of the highest-quality companies in Carolinas real estate is truly the best of both worlds,” said Tommy Camp, president and chief executive officer of Prudential Carolinas Realty. “We have the strong corporate backing of HomeServices – a Berkshire Hathaway affiliate and the leading national home services provider – and two deeply rooted local companies with intimate knowledge of the Triangle, one of the most sought-after addresses in America.”
