Keyes and Illustrated Properties merge, now largest independent firm in Florida

Firms will continue to operate under their respective brands and management teams

TRD MIAMI /
Jul.July 20, 2016 01:45 PM

Two of South Florida’s largest residential brokerages have merged, creating the largest independently owned firm in Florida.

The Keyes Company and Illustrated Properties announced the merger on Wednesday. They will continue to operate under their respective brands and management teams, according to a press release.

Together, the firms generate more than $6 billion in annual revenue and will likely dominate the residential market in South Florida based on sales volume alone.

In a ranking of brokerages at the end of last year, Keyes was among the top five in terms of active agents, and Illustrated No. 3 in Palm Beach County. With the merger, the firms have more than 1,100 agents in Palm Beach County, more than double their competitors.

F.F. “Bud” Adams co-founded Illustrated Properties with Rodney Dillard in the 1930s. Now, the Palm Beach Gardens-based brokerage has 21 offices with more than 500 agents in Palm Beach, Martin, St. Lucie, Volusia and Collier counties.

Keyes, based in Miami, was founded in 1926 and has been independently owned and operated since then. The company recently rebranded, including its logo and marketing materials.

“We are thrilled to align ourselves with another strong, family-owned company that also emphasizes a structure of trust and integrity with its Associates,” Keyes CEO Mike Pappas said in a statement. “With the radical changes in technology driving this business, this is a tremendous opportunity to leverage those shared resources. This allows us to provide even more services, support and benefits to our companies and clients.” – Katherine Kallergis


Related Articles

arrow_forward_ios
Jarred Kessler and Mike Pappas

Keyes partners with EasyKnock to offer sale-leaseback program

Keyes partners with EasyKnock to offer sale-leaseback program
Mike Pappas, Shari Schwamm, Doris and Stuart Zeuner

Keyes acquires Zeuner Realty in Boca Raton

Keyes acquires Zeuner Realty in Boca Raton
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Jay Parker, Mike Pappas and Beth Butler

SoFla brokerage execs optimistic, say deals are still closing

SoFla brokerage execs optimistic, say deals are still closing
Illustrated Properties acquires Jupiter Hills Village Realty

Illustrated Properties acquires Jupiter Hills Village Realty

Illustrated Properties acquires Jupiter Hills Village Realty
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...