NRT, a joint venture between Cendant and Apollo Management LP, bought the residential real estate brokerage operations of Northside and said it will merge it with NRT-owned Coldwell Banker Buckhead Brokers.
The new company will be called Coldwell Banker Residential Brokerage.
Atlanta-based Fairgreen Capital was the seller. Fairgreen also operates Fairgreen Property Management, Fairgreen Development, Fairgreen Mortgage and Northside Insurance.
NRT, one of the nation's largest real estate brokerage firms, does business under the Coldwell Banker and ERA brands. NRT owns and operates companies in 24 metropolitan areas. Last year, NRT posted $107 billion in closed sales volume.
"Coldwell Banker Buckhead Brokers has played a leadership role in the Atlanta real estate market and now, with the addition of Northside Realty's well-respected professionals, our family of companies will be even stronger," Bob Becker, president and chief executive officer ofNRT, says in a prepared statement.
Jim Schmidt, president and chief operating officer of Coldwell Banker Buckhead Brokers, will head the new organization. Charlotte Sears, general sales manager with Northside Realty, will join Barbara Gordon as executive vice president.
Northside Realty's Builder Developer Services division will operate as Coldwell Banker Builder Developer Services, with Bea McDowell as executive vice president. Coldwell Banker The Condo Store will continue as a division within Coldwell Banker Residential Brokerage.
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