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

‘Good Girls’ Star Mae Whitman Swaps Rustic-Chic Studio City Digs for Groovy Pasadena Mid-Century

Though she’s been playing Annie Marks on the NBC drama “Good Girls,” cancelled in June after four seasons, Mae Whitman is now gaining renewed notice for her role as Bianca in the 2015 rom-com “The Duff.” Now topping the streaming charts on Netflix, it’s about a high school senior who reinvents herself after finding out… Keep reading

Deasy Penner Podley Welcomes Lawrence Ojomo

deasypennerpodley is excited to announce Lawrence Ojomo as a new agent to our Westside family. A 1st generation Angeleno, Lawrence first gained exposure to real estate as a child working alongside his immigrant parents as they bought and sold two homes right here in Southern California. His career began in New York City as an… Keep reading

Q3 2021 Market Report

A guide to market performance and analysis. Explore your neighborhood today.