COLDWELL BANKER GROWING; PURCHASE MAKES REALTY GIANT THE STATE'S BIGGEST RESIDENTIAL BROKERAGE.Byline: Ben Sullivan Daily News Staff Writer
The parent company of Coldwell Banker Residential Brokerage bought Beverly Hills-based Jon Douglas Jon A. "Jack" Douglas (b. September 10 1936 in Indiana) is a former professional American tennis player and college football quarterback. College career
Douglas graduated from Santa Monica High School, where he played football, tennis, and basketball. Co. on Thursday, making Coldwell the largest residential real estate brokerage in California and strengthening its position as the largest in the nation.
Coldwell parent company NRT NRT Nicotine Replacement Therapy
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NRT Net Registered Tonnage Inc. did not disclose how much it paid for Jon Douglas, saying only that it spent a total of $310 million to acquire Jon Douglas and two smaller brokerages.
``But of that, the largest entity was (Jon) Douglas,'' said Lloyd Greif, president of Greif & Co., the investment bank which represented Jon Douglas in the deal.
NRT is a joint venture between HFS (Hierarchical File System) The file system used in the Macintosh. The first version, known as "Mac OS Standard," was introduced in 1985. HFS+, an enhanced version, came out in 1998 in preparation for the upcoming Mac OS X operating system. Inc. and Apollo Management Apollo Management L.P. is a private equity L.P. firm, founded in 1990 by Leon Black (Apollo Advisors). Based in New York, it also has offices in Los Angeles and London. It has invested over $16 billion in companies inside and outside the of the United States. . HFS already owns Century 21 and ERA real estate brokerages, in addition to such nameplates as the Avis car rental franchise and the Ramada ra·ma·da
n. Southwestern U.S.
a. An open or semienclosed shelter roofed with brush or branches, designed especially to provide shade.
b. An open porch or breezeway.
2. hotel chain.
The purchase of Jon Douglas gives Coldwell Banker 350 residential real estate offices in California, and 11,000 sales associates, according to Bob LeFever, president of Coldwell Banker's Southern California operations.
In addition, it gives Coldwell Banker major market share at the high end of the California homes market, LeFever said. ``We sell one out of every two homes now'' above $1 million, he said.