Keyes acquires Mizner Grande Realty in Boca Raton
Al Albinder founded 60-agent firm in 2001
The Keyes Company scooped up a 60-agent brokerage in Boca Raton, marking its third acquisition in eight months.
Miami-based Keyes acquired Mizner Grande Realty, led by Ari Albinder, according to a release. Mizner Grande and its agents will move into Keyes’ Boca Raton office at 21065 Powerline Road.
Albinder founded Mizner Grande in 2001, and the firm closed $2.7 billion in sales since then. The brokerage specializes in luxury beachfront real estate, according to the release.
Nearly a century old, the Keyes Company is Florida’s largest independent brokerage, spanning 58 offices with more than 3,600 total agents. With CEO Mike Pappas and recently appointed President Christina Pappas at its helm, Keyes is on an expansion path.
In October, the firm bought Novus Realty in Miramar, a 30-person team with $40 million in yearly sales volume. In June, Keyes bought the 140-agent Skye Louis Realty, with offices in Coconut Creek and Delray Beach. Skye Louis closes about $200 million in sales annually.
Keyes’ expansion has gone beyond just buying up other brokerages. In August, Karl Fong Yee, the former director of operations for the Riley Smith Group, joined Keyes to start a broker team called AdvyZors. When he came on board, Yee aimed for $50 million in annual sales with a team of six.
Christina Pappas said the Mizner Grande acquisition was a product of timing, and the constant outreach Keyes does to independent brokerages in the areas it serves. With the slowdown in the market, Keyes is anticipating more small firms turning to Keyes, she said.
“We are really focused on strategic statewide growth,” Pappas said, adding that she is not worried about the cooling market. “Florida is well poised for the softening of this market,” she said.
Keyes isn’t the only brokerage in a growth mode, specifically in Broward and Palm Beach counties. Douglas Elliman opened two offices in Weston earlier this month, and the Agency is looking to make a comeback in Palm Beach County with a Palm Beach Gardens office it opened in January.