Deasy Penner to buy out Podley Properties

 

By Gregory Cornfield

The wave of consolidation involving California residential brokerages is showing no sign of abating.

In the latest combination, L.A.-based brokerage firm Deasy Penner said it will buy Pasadena-based Podley Properties to expand its presence in Southern California. The deal will create a network of almost 300 salespeople from Malibu to Palm Springs, and an estimated annual sales of more than $1.6 billion, the firms announced Monday.

The acquisition follows the blockbuster deal in August in which New York-based Compass acquired Pacific Union International Realty, one of the largest brokerages on the West Coast, with $14 billion in sales last year.

Deasy Penner has about 100 partners working at its five offices in Pasadena, Venice, Silver Lake, West Hollywood, and Santa Monica. Mike Deasy, the brokerage’s CEO and Co-Managing Director, touted the “positive cultural alignment” between the two firms.

“We have been looking for both the right westside and eastside acquisitions for a while,” Deasy said in a statement.

To read the full article visit their website here.

You Might Also Like...
Recent Posts

DPP Real Estate Welcomes Roxanna Godinez

dpp real estate is excited to announce Roxanna Godinez as a new agent to our Pasadena family. In 1990, Roxanna Godinez came to the United States from Guatemala to work as an administrative assistant for a small aerospace manufacturer. As the aerospace sector diminished, she was determined to realize the American dream. Roxanna entered the residential… Keep reading

5 Los Angeles Homes For Sale This Week

From a modern loft in Santa Monica to a sweet private retreat nestled in the hills of Montecito Heights, this week’s newest Los Angeles listings cover the expansive landscape of the city stretching from the westside to the eastside. In the center of it all, check out the elegant two-story country-style home in Hancock Park…. Keep reading

Designer’s Ultra-Modern ‘Treehouse’ in Pasadena Quickly Scores Buyer

By Wendy Bowman A little over a decade ago, Los Angeles designer Leonardo d’Anconia set out to craft his very own family oasis — one that would mesh seamlessly with the natural surroundings, most notably a striking trio of mature oak trees anchoring the property. “We love the oaks and were intent on protecting them as… Keep reading