The Street Covers Merger
December 14, 2016
Strategic West Coast Expansion Focuses on Firm of the Future.
SAN FRANCISCO and LOS ANGELES, Dec. 14, 2016 /PRNewswire/ — San
Francisco’s Pacific Union International, Inc., the ninth largest real estate brokerage in the U.S. by sales volume, and John Aaroe Group, a leading Southern California luxury brokerage, announce their merger.This strategic business collaborat ion links two of the strongest residential real estate firms on the West Coast,supporting combined 2015 production of $10.5 billion.
“Pacific Union has been aggressively looking to partner with a top-t ier brokerage with clear momentum on the West Coast,” Pacific Union CEO Mark Mclaughlin says. ‘John Aaroe Group is a premium brand that embraces our culture of teamwork. trust and innovation. The combination will permit Pacific Union to continue to invest in marketing and technology programs to support our real estate professionals in this highly competitive market.’
‘This strategic collaboration with Pacific Union delivers on our brokerage’s mission to expand our international reach and accelerate the adoption of the most advanced technology and innovative thinking for our real estate professionals in the industry today,’ John Aaroe,president of John Aaroe Group says.
The combination of Pacific Union, The Mark Company,John Aaroe Group, and Chartwell Escrow seamlessly link the Northern and Southern California offices of these two brokerages. The combined organization results in 1,100 real estate professionals operating in 38 offices.Northern California markets include San Francisco.Marin, Contra Costa. Alameda. Napa,and Sonoma counties, Silicon Valley, and the Lake Tahoe region. Greater Los Angeles markets include Beverly Hills, the Westside,Downtown, and the San Fernando and San GabrielValleys.
Pacific Union vigorously executes against a unique.high-performance vision for the development of the real estate firm of the future. Key to this vision is its Innovation Lab. led by 25 agile real estate professionals who accelerate technology development unsurpassed in the industry. The technology stack created through this initiative includes a robust array of proprietary tech tools that connect the cloud to the street. putting faster business analytics into the hands of elite real estate professionals and creating the ideal road map for the ultimate client experience.
Pacific Union’s international reach includes an award-winning Chinese Concierge program established in 2013 in Beijing. with extensive marketing outreach to Chinese investors — a key success driver in the Los Angeles and San Francisco markets.
Through this merger, John Aaroe Group, noted for brokering the largest sale in Beverly Hills, at $70 million,will extend its strength into Los Angeles’ highly competitive new-condominium market with urban sales and marketing authority,The Mark Company. The Mark Company was acquired by Pacific Union in 2015,and leads the West Coast in the development of new, luxury high-rise residential condominium projects, which are powerfully transforming downtown residential markets in San Francisco, Los Angeles , and Seattle.