RelatedISG International Realty acquired Wise Realtors, a Wynwood-based brokerage, as it continues to expand in South Florida.
Wise Realtors, founded by Julio Ospina and Jorge Llano, will bring its 19-person team to RelatedISG, a joint venture between the Related Group and ISGWorld. The Wynwood firm, which operates in Miami-Dade and Broward counties, will join RelatedISG’s Edgewater office.
The acquisition is one of a handful for RelatedISG, which has grown from 50 agents in June 2014 to more than 370 now, president Alex Vidal told The Real Deal. Last year, the firm acquired Plan B International Realty, as well as Donna Incorvaja’s Donna Home Expert Team in Fort Lauderdale.
“I really do feel that this year there will be a lot of acquisition opportunities for brokerages,” Vidal told TRD, citing the slowdown in preconstruction sales and uptick in the commercial and single-family home markets. “Our goal is to be near 500 agents at the end of this year.”
“We hope to build on that philosophy through this new relationship, with our team adopting the structure, resources and reach of RelatedISG to extend our client base and give our agents that competitive edge within the luxury real estate market,” Ospina said in a press release announcing the deal.
The Edgewater office, at 350 Northeast 24th Street, opened last summer in a two-story, loft-style space.