NRT Acquires Dyson & Dyson in San Diego; Nation's Leading Residential Real Estate Brokerage Company Bolsters Its Already Strong Presence in San Diego and Orange County.Business Editors PARSIPPANY, N.J.--(BUSINESS WIRE)--Oct. 9, 2001 NRT NRT Nicotine Replacement Therapy NRT Norm-Referenced Test NRT near real time NRT Non-Real-Time NRT National Response Team NRT Tokyo, Japan - Narita (Airport Code) NRT Net Registered Tonnage , the nation's leading residential real estate brokerage company, today acquired Dyson Dyson may refer to: People
Bob Dyson, co-owner of Dyson & Dyson, will become president of Coldwell Banker Residential Brokerage in San Diego. His wife and co-owner, Loraine Dyson, will become vice president of marketing for the new company. "We are very proud to welcome the Dyson & Dyson organization into the NRT family of companies," said Bob Becker, president and chief executive officer of NRT. "Bob and Loraine Dyson are known throughout the real estate industry as innovative marketers. In addition, they have always exceeded expectations when it comes to providing first-class service to their sales associates and clients alike. In pursuing acquisitions, we always seek local real estate companies that reflect our strong customer focus. "On a broader scale, this is another milestone on an impressive list of additions to our company that reflect our bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish attitude regarding the real estate industry and the American economy as a whole," Becker said. In September, NRT announced the acquisition of The Corcoran Group in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Gundaker Realtors in St. Louis, both of which were also among the nation's most successful independent real estate companies. With the addition of Dyson & Dyson, Coldwell Banker Residential Brokerage will now have 21 offices and 900 sales associates in San Diego. On a combined basis in San Diego and Orange County, the two companies had a closed sales volume of greater than $7.4 billion along with more than 15,000 closed transaction sides(1) in the year 2000. Last year, three out of every four $1 million-plus homes in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). were sold through Coldwell Banker Previews International, the estates division of Coldwell Banker. "We saw this new relationship as an opportunity to give our company and our sales associates the kind of financial strength only a company with NRT's depth of resources can provide," said Bob Dyson. "NRT's national resources and commitment to the real estate industry will enable us to grow in this market at a faster pace than we could have on our own. Loraine and I have deep roots here in San Diego. Our management style is intensely hands-on, and we look forward to bringing a local leadership presence to Coldwell Banker Residential Brokerage while reflecting NRT's vision and mission." Founded in 1988 by Bob and Loraine Dyson, Dyson & Dyson Real Estate Associates has been one of the fast-growing real estate companies in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, based on sales volume during the past decade. Bob Dyson brings corporate management experience from overseeing 1,500 real estate offices in 42 states in his previous position as owner and chairman of the board of the Red Carpet of America franchise system. Loraine Dyson was a top-producing local sales agent before founding the company with Bob. For the past 13 years, she has guided the Dyson & Dyson agent support staff in its marketing and listing management efforts with great success. Also under Loraine's direction, the Dyson & Dyson Charitable Foundation has provided the company's sales associates the ability to donate a portion of their commission on each transaction in a way that makes a direct impact on their communities. In the past 18 months, the Foundation has donated do·nate v. do·nat·ed, do·nat·ing, do·nates v.tr. To present as a gift to a fund or cause; contribute. v.intr. To make a contribution to a fund or cause. more than $175,000 to 60 local charities. Dyson & Dyson's offices in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. and Palm Springs, Calif., were not part of this transaction with NRT. At the same time, Dyson & Dyson announced that its seven offices in the Palm Springs area will join forces with Coldwell Banker Eadie Adams Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. . Effective Oct. 22, those seven offices will operate as Coldwell Banker Dyson & Dyson. NRT is the nation's leading residential real estate brokerage company. With more than 750 offices and 38,000 sales associates, NRT owns and operates companies in 24 of the nation's largest metropolitan areas. In 2000, NRT posted a real estate industry record with $105 billion in closed sales volume. NRT is a joint venture between Cendant (NYSE NYSE See: New York Stock Exchange :CD) 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. L.P. (1) A transaction side is defined as either the listing or the selling portion of a residential sales transaction. (e.g., If a company lists and sells a home, it is credited with two closed transaction sides.) --30---mtb/la* jap/la
CONTACT: NRT, Parsippany
Mark Panus, 973/240-5041
Mobile: 973/727-0982
E-mail: mark.panus@nrtinc.com
KEYWORD: NEW JERSEY CALIFORNIA
INDUSTRY KEYWORD: REAL ESTATE MERGERS/ACQ
SOURCE: NRT
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