LoopNet, PropertyFirst Merger Completed

LOS ANGELES-Online giant LoopNet Inc. and PropertyFirst.com have completed their previously announced merger agreement, a cyberspace marriage that instantly creates the undisputed leader in the number of online listings of commercial properties for sale or rent.

The newly merged companies, which will operate under the LoopNet name, ahs appointed Richard Boyle as president and CEO. Boyle has been serving as COO since the merger plans were announced in March and previously was in charge of operations, product and technology development at San Francisco-based LoopNet.

LoopNet founder Dennis DeAndre and John Stanfill, founder of LA-based PropertyFirst, will serve as co-chairs of the combined companies. A new LoopNet Web site that integrates the two firm’s sale and lease listings, as well as member databases, will be launched later this summer.