The Real Deal Miami

South Florida by the numbers: Say “yes” to the acquisition

By Master Brokers Forum | June 25, 2018 09:45AM

Mike Pappas and Beth Butler (Credit: The Keyes Company and Twitter)

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

Big firm: Do you take these top-producing agents and this sexy client list? Small firm: Do you take this well-known brand name and huge stack of cash? It’s June 2018, and by the power vested in real estate, we now pronounce you another brokerage acquisition! Just this month alone, we saw two big-name South Florida offices gobble up smaller “boutique” agencies, keeping the competition hot and heavy as we head into summer. And the action is not only in the residential sector – last year, a Miami company’s merger made it the largest homebuilder in the entire U.S. Let’s throw some rice and raise a glass to high-profile real estate acquisitions in this edition of “South Florida by the numbers.”

20: Number of agents Compass will add to its office after this month’s acquisition of ICS Realty; an Aventura firm led by Master Broker Karen Matluck. [TheRealDeal]

$20 million: Total sales generated last year by the Palm Beach County Realty Group of Boynton Beach, which was also acquired this month by Keyes’ Illustrated Properties. (Which became a big-name merger itself in 2016.) [TheRealDeal]

8,000: Estimated number of Century 21 franchised brokerage offices in the world – including Century 21 JWC Florida Realty in Pembroke Pines, which acquired the Cooperative Real Estate Group in May. The new firm of 54 agents will remain in their location and be re-branded as Century 21 Keystone Realty. [TheRealDeal]

1,800: Estimated number of Berkshire Hathaway HomeServices agents in Florida, including 24 the company added with its April acquisition of Foster & Clark Real Estate in South Miami. [TheRealDeal]

$5.7 billion: Amount Miami-based Lennar paid to acquire the CalAtlantic Group in February. The deal allows Lennar to generate about $250 million a year in savings, including $75 million in fiscal year 2018. [TheRealDeal]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.