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Berkshire Hathaway HomeServices takes over Elite Preferred Realty.


21 November 2013 - Berkshire Hathaway HomeServices Florida Realty, a firm related to Warren Buffett's Berkshire Hathaway Inc (NYSE:BRK.A), has acquired Elite Preferred Realty in Lakewood Ranch as part of its growth strategy.

In a statement Berkshire Hathaway HomeServices said that its Florida subsidiary, previously known as Prudential Florida Realty, would add 40 employees, an office and a property-management unit as part of the latest buy. Financial details were not disclosed.

Berkshire Hathaway HomeServices Florida Realty, which became part of Berkshire Hathaway HomeServices in October, aims to expand its operations across southern Florida. The takeover of Elite Preferred Realty is in line with the firm's initial targets -- Lakewood Ranch in Sarasota and the broader Manatee County.

Berkshire Hathaway HomeServices is a real estate brokerage network run by HSF Affiliates LLC, a joint venture in which HomeServices of America Inc holds a majority stake. The latter is a unit of MidAmerican Energy Holdings, which is in turn controlled by Berkshire Hathaway.Country: USASector: Construction/Real EstateTarget: Elite Preferred RealtyBuyer: Berkshire Hathaway Inc, Berkshire Hathaway HomeServices Florida RealtyType: Corporate acquisitionStatus: Closed

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Publication:M & A Navigator
Geographic Code:1U5FL
Date:Nov 21, 2013
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