Gertrude Gardner, REALTORS and Prudential Louisiana Properties Merge; Merger Forms New Orleans' Largest Residential Real Estate Network.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Dec. 15, 2000 The Prudential Prudential is the name of two different companies and buildings named after them: Companies:
The new company will specialize spe·cial·ize v. 1. To limit one's profession to a particular specialty or subject area for study, research, or treatment. 2. To adapt to a particular function or environment. in residential, commercial, fine home and relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. activities. The merger of New Orleans-based Gertrude Gardner, REALTORS(R), including its subsidiary Martha Ann Samuel Inc. REALTORS, and Prudential Louisiana Properties, including its sister company, Prudential Bailey Real Estate, is effective Jan. 1, 2001. Throughout Metropolitan New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded , Southern Mississippi and the Mississippi Gulf Coast The Mississippi Gulf Coast refers to the three Mississippi counties which lie on the Gulf of Mexico: Hancock County, Mississippi, Harrison County, Mississippi, and Jackson County, Mississippi. , Gertrude Gardner, REALTORS(R), has 21 offices, approximately 800 licensed sales professionals and brokers and 75 employees. Prudential Louisiana Properties has 14 offices, over 500 licensed sales professionals and brokers and 58 employees. The combined entity creates metropolitan New Orleans' largest residential real estate company with 1,300 sales professionals, 35 offices and more than 30% market share, which is 50% more residential sales volume in metro New Orleans area than the company's next closest competitor in metro New Orleans and the surrounding areas. Together, both companies generated in excess of $1.3 billion in sales in 1999. Barbara H. Blades, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Prudential Louisiana Properties, will be president of residential services; Glenn M. Gardner, Gertrude Gardner, REALTORS' CEO and president, will become president of operations; and Norris Songe, CFO See Chief Financial Officer. of Prudential Louisiana Properties, will be president of client services. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Blades, "This merger is about more than marketshare. It is the coming together of two tremendously respected real estate brands who have a clear vision to deliver exceptional real estate related services in new and innovative ways." Gardner added, "My grandmother built her name, 'Gertrude Gardner,' into a 'house-sold' word. As we move into the next century, we look forward to the blending of these two great companies and how, together, we can serve the needs of our market in a bigger and better way with additional client services. Gertrude Gardner, REALTORS(R) has been known as home-grown, locally-owned and nationally-known for many years, and now as part of this larger entity, Prudential Gardner, REALTORS(R), we'll still be home-grown and locally-owned, but now even internationally known." According to Songe, "This merger will enable our professionals to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the strengths of each company, to deliver an enhanced product offering reinforced by a nationally-renowned brand, and to support a respected name that has been a staple 1. (language) STAPLE - A programming language written at Manchester (University?) and used at ICL in the early 1970s for writing the test suites. STAPLE was based on Algol 68 and had a very advanced optimising compiler. 2. in the metro New Orleans community for many years." Earl Lee, president of The Prudential Real Estate Affiliates, Inc., said, "Gertrude Gardner, REALTORS(R) has always been highly regarded throughout the real estate industry, in our own network and throughout metro New Orleans. The combination of these two companies will maximize the value of the Prudential Real Estate Network, the power of the Prudential brand and will emerge as the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae real estate company serving consumers in the Gulf States region." The new company will continue to leverage relocation opportunities through its existing capabilities by working closely with Prudential Relocation and the Fine Homes and Resort Properties programs, along with a host of award-winning technology solutions. These include PREA PREA Pension Real Estate Association PREA Prison Rape Elimination Act of 2003 PREA Pennsylvania Rural Electric Association Center, which is the network's private intranet site for its professionals, and its proprietary eCertified program, which distinguishes Prudential Real Estate professionals by their ability to be fluent fluent /flu·ent/ (floo´int) flowing effortlessly; said of speech. in delivering information and marketing services both online and through traditional channels. About Gertrude Gardner, REALTORS(R) The Gertrude Gardner Corporation was founded in 1943 by Gertrude Gardner, and has been run by her grandson Grandson (gräNsôN`), Ger. Grandsee, town (1990 pop. 2,473), Vaud canton, W Switzerland, at the southwestern end of the Lake of Neuchâtel. , Glenn M. Gardner as president, since 1979. The company specializes in residential, commercial and industrial sales, rental/property management, auction, business opportunity and home loan services. The company is ranked in the top one percent of all real estate companies nationally, and had gross annual sales of approximately $753 million in 1999. Prudential Gardner, REALTORS(R) also has won numerous national "Five Star Circle of Excellence Awards" for excelling in top quality relocation services Relocation services or "employee relocation" includes a range of internal business processes that are engaged to transfer employees (and often their families) or entire departments of a business to a new work location. . About Prudential Louisiana Properties Prudential Louisiana Properties, an independently owned and operated franchisee of The Prudential Real Estate Affiliates Inc., has been a part of the Prudential Real Estate Network since 1989. Veterans in the real estate industry, the management team of Prudential Louisiana Properties have been involved in the business since 1967. The company excels as one of the premier real estate specialists in the New Orleans metropolitan and Mississippi Gulf Coast areas and is a valued member of the community. Prudential Louisiana Properties had gross annual sales of approximately $559 million in 1999. About Prudential Real Estate and Relocation Services Prudential Real Estate and Relocation Services, a company of The Prudential Insurance Company of America, consists of two entities: The Prudential Real Estate Affiliates Inc. and Prudential Relocation. The Prudential Real Estate Affiliates Inc. is a leading full-service real estate franchise operation that awarded its first affiliation in 1988. The Prudential Real Estate Network comprises approximately 42,000 sales professionals in more than 1,500 offices throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. The Network generated an annual sales volume of $92.4 billion in 1999. Prudential Real Estate brokerage services are offered through the network of franchisees of The Prudential Real Estate Affiliates Inc. Most franchisees are independently owned and operated. Prudential Relocation is a leading provider of domestic and international relocation services. In 1999 Prudential Relocation completed over 168,000 transactions to more than 49,000 transferees of its corporate clients. The company has an established client base ranging from Fortune 500 companies and U.S. government agencies. The Prudential Insurance Company of America, with more than $366 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of Dec. 31, 1999, is one of the largest life insurance companies in the United States and is among the largest financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. institutions in the world. Prudential serves millions of individual and institutional customers worldwide and offers a variety of products and services, including life insurance, property and casualty insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, real estate brokerage franchising and relocation services for companies. The Prudential Real Estate Affiliates Inc. and Prudential Relocation can be found on Prudential's Web site at www.prudential.com. For more information, visit the Web sites: www.GertrudeGardner.com and www.pru-realestate.com. NOTE TO EDITORS: Company logo, key photographs and press information are available on the Web sites. |
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