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

Urban Forager Cookbook Event

Come hear author Elisa Callow speak about the inspiration for her new book, The Urban Forager, showcasing the rich and expanding culinary culture of the eastside of Los Angeles. Enjoy a glass of wine from Highland Park Wines and small bites from Triple Beam Pizza. Highland Park Wine :: 5918 1/2 N Figeroa Street Monday,… Keep reading

Monrovia’s 37th Historic Homes Tour

Hosted by the Monrovia Historic Preservation Group, the 37th Historic Homes Tour offers the public a chance to experience a number of Monrovia’s architectural treasures. Featured on the tour will be six of Monrovia’s “First Houses;” meaning homes built before the end of 1887. The Monrovia Historical Museum and the Anderson House Museum will also… Keep reading

1928 English cottage for $800K awaits buyer in Altadena’s historic Janes Village

By Marilyn Kalfus Set on a knoll under a soaring Chinese elm tree, an English cottage on Marigold Street is one of the original homes that Elisha Janes, a New York transplant, built in Altadena in the 1920s. The 1928 home is located in Janes Village, designated as an ”Altadena Heritage” area in 2002. In… Keep reading