Engel & Völkers Miami just closed on the acquisition of DASH, a boutique brokerage in Coral Gables.
The eight-agent company, led by Raul Estrada and Adrian Salgado, known as the “Gables Mavens,” moved into the Engel & Völkers office at 300 Altara Avenue, near the Shops at Merrick Park. The group closed $130 million in sales volume over the past five years, said Alexandra Elfmont, executive vice president of Engel & Völkers Miami.
Estrada’s experience includes assembling a team of agents to manage, list and sell real estate owned (REO) properties, and Salgado spent four years working for Miami-Dade County’s department of property appraisal, according to a press release.
Elfmont declined to disclose terms of the acquisition. In recent months, ISG Realty, Compass, the Keyes Company and other brokerages have been acquiring smaller firms in South Florida due to thinning profit margins and increased competition.
Engel & Völkers has doubled its sales volume and listing inventory over the past six months, according to a press release. About a year ago, Lourdes Alatriste returned to the brokerage as a partner and private office adviser. A few months later, Elfmont left Cervera Real Estate, where she was vice president of marketing for the brokerage’s development division, to oversee strategy, sales management, business development, recruitment and retention at Engel & Völkers Miami.