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Coldwell Banker Residential Brokerage Acquires Droubi Real Estate in San Francisco, Calif.
SAN FRANCISCO, Calif. – May 14, 2007
Coldwell Banker Residential Brokerage in Northern California today announced that it has acquired the assets of San Francisco-based Droubi Real Estate, Inc. The boutique residential real estate brokerage's more than 40 sales associates, who were responsible for approximately $317 million in closed sales volume during the past 12 months, will now operate under the banner of Coldwell Banker Residential Brokerage. The operations of the company's office will be combined under the leadership of Kathy Murphy, Coldwell Banker Residential Brokerage's manager of its Market Street office.
The acquisition of Droubi Real Estate, a leader in the San Francisco area for 35 years, continues Coldwell Banker Residential Brokerage's expansion and strengthens its position as the largest full-service residential real estate brokerage in Northern California with reported 2006 sales volume of more than $20 billion. In the San Francisco Bay Area/Peninsula region alone, the company's more than 3,000 sales associates accounted for approximately $12 billion in total closed sales volume this past year.
"Droubi Real Estate and Coldwell Banker Residential Brokerage are both known for their rich San Francisco history, local expertise and deep commitment to customer service," said Rick Turley, president of Coldwell Banker Residential Brokerage's San Francisco and Peninsula regions. "This acquisition allows us to further strengthen our longstanding tradition of expertise and excellence in this city."
Droubi Real Estate was originally established in 1972 as B.J. Droubi & Company and was renamed Droubi Real Estate last year, when the founder and former owner, B.J. Droubi, sold the business to her daughter, Lamisse Droubi, and several other business partners. B.J. Droubi, a highly respected and accomplished Realtor®, will be rejoining the San Francisco real estate community in order to be a part of this transition to Coldwell Banker Residential Brokerage.
Lamisse Droubi, who will join the company as a sales associate, said, "This is an exciting time to join Coldwell Banker Residential Brokerage and we look forward to combining our deep community roots for the mutual benefit of clients and sales associates alike." B.J. Droubi added, "Coldwell Banker Residential Brokerage shares the unique company culture that our clients have relied on for more than three decades, a culture that promotes a profound commitment to integrity, professionalism and client satisfaction."
About Coldwell Banker Residential Brokerage:
Coldwell Banker Residential Brokerage, the largest residential real estate brokerage in Northern California, serves the markets of Sacramento/Tahoe, San Francisco/Peninsula, San Francisco Bay Area, and Silicon Valley/Monterey Bay. The company has 66 office locations and more than 4,300 sales associates throughout Northern California. Through its internationally renowned Coldwell Banker Previews® program, the company is widely recognized for its expertise in the luxury housing market. Coldwell Banker Residential Brokerage is part of NRT Incorporated, the nation's largest residential real estate brokerage company. NRT has more 1,000 offices and 61,000 sales associates operating in more than 35 major metropolitan areas. A subsidiary of Realogy Corporation, NRT operates Realogy's company-owned real estate brokerage offices. For more information please visit www.CaliforniaMoves.com or call 925.275.3085.
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