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Recent merger could impact California real estate market

When two companies in California decide to merge, it can have a big impact on the state's economy. Mergers often result in a company that is bigger and more profitable than each company was prior to the merger. In fact, the recent merger between Partners Trust and Pacific Union International will result in the state's biggest independent real estate brokerage. This merger is the second one that Pacific Union entered into over the previous eight months, having previously merged with John Aaroe Group.

When measured using the 2016 sales volume, Pacific Union is currently the eighth largest real estate brokerage in the entire nation. Partners Trust has over 240 associates in the Los Angeles region.

This new merger will result in a company with an estimated 2017 sales volume topping over $15 billion. There will be 47 offices in the state, employing over 1,400 real estate workers. Partners Trust and John Aaroe Group will retain their individual identities with regards to doing business, while incorporating Pacific Union's business assets into its practice.

Both companies believe the merger will have a big effect on the state's real estate market, and have a positive outlook moving forward. Time will tell, but this merger could spell success for both ventures, all while benefiting the California real estate market. Mergers, however, are complicated, and it takes a good understanding of the law to make sure that the deal is fair and appropriate. For that reason, business owners looking to merge may want to seek the advice of a corporate law attorney, so they can make informed decisions.

Source: Housing Wire, "California real estate shakeup: Merger will create state's largest independent brokerage," Ben Lane, Aug. 11, 2017

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