September 14, 2018, 2:13 pm
FOR IMMEDIATE RELEASE
Contact: Victoria Koch, (424) 248-8263
DEASY PENNER TO ACQUIRE PODLEY PROPERTIES
The Purchase Expands the Real Estate Firm’s Geographic Reach in
Los Angeles, CA – September 14, 2018 – Luxury real estate brokerage firm Deasy Penner has agreed to purchase Podley Properties, creating a Southern California network of nearly 300 sales professionals—stretching from Malibu to Palm Springs—and estimated annual sales in excess of $1.6 billion.
“We’re honored to have this opportunity,” said Mike Deasy, Chairman of Deasy Penner. “We have been looking for both the right Westside and Eastside acquisitions for a while. Not only is Podley an exceptional brokerage, with excellent agents and a great reputation, there’s also a very positive cultural alignment between our two firms.”
Deasy Penner is a lifestyle real estate brand focused on providing superior representation to their clients, service and growth opportunities for agents, as well as the ability to connect and engage with the community.
With the recent consolidation of mega-firms, being independent and entrenched in the region has allowed Deasy Penner to further differentiate itself from the competition.
“We had the opportunity to sell to many firms, but Deasy Penner was the natural choice,” stated Bill Podley, Chairman of Podley Properties. “DPP is locally owned and operated by leaders who are technologically innovative, but more importantly, understand the value of people and community.” Podley will relinquish all executive duties and voting rights, and will remain a sales agent in the new entity.
“Real estate, like many industries, is evolving rapidly with the Internet,” said George Penner, CEO of Deasy Penner. “DPP uses a people-based platform that leverages technology, not the other way around. This allows us to reach and have a meaningful dialogue with the community and our clients at a hyper-local level. Our agents are deeply involved in approximately 150 individual community-based and philanthropic organizations, from The Canyon Charter School in Santa Monica to Pasadena Heritage in the San Gabriel Valley.”
“This acquisition allows us to capitalize on the strengths of both Deasy Penner and Podley, from marketing and design capabilities, to technology platforms and continued education opportunities for the benefit of our valued agents,” Penner added.
Adam Bray-Ali, a Manager at Podley Properties said: “Many of our agents have been desiring a Westside presence with the ability to refer clients. Deasy Penner gives that ability immediately, with an agent roster consisting of incredible depth and experience.”
About Deasy Penner
A residential brokerage firm whose founders have more than fifty years of real estate experience, Deasy Penner has represented billions of dollars in real estate transactions. The firm is internationally recognized for its creative vision, dynamic business model, and unparalleled client service. DPP currently has offices and agents in Venice, Santa Monica, West Hollywood, Silver Lake and Pasadena. Deasy Penner is looking forward to adding Podley Properties’ additional branch offices in Pasadena, La Canada, Altadena, Sierra Madre, Monrovia and Glendora. The firm is led by Mike Deasy, Chairman and George Penner, Chief Executive Officer.