The value of the deal was undisclosed.
Alan Jacobson, vice president, chief operating officer and co-owner of Wimbish, will become senior vice president of luxury sales for Coldwell Banker.
The acquisition caught some South Florida brokerage sources by surprise, especially since Wimbish's 500 sales associates booked $35.8 million in gross commission income in 2001; logged 2,700 closed transactions; and sold 214 homes homes priced over $1 million last year.
Four of Wimbish-Riteway Realtors' sales offices—in Miami Beach, Coconut Grove/Coral Gables, Key Biscayne/Brickell and Aventura—will run under the direction of Pat Dahne, regional president for Miami-Dade County. With these offices, Coldwell Banker Residential Real Estate has 22 offices and 1,550 sales associates serving Miami-Dade County.
Kay Hall, regional president for Broward County, will oversee Wimbish-Riteway's other three offices—in Fort Lauderdale, Weston/West Broward and Hollywood. This brings Coldwell Banker Residential Real Estate's offices to 25 with 1,700 sales associates who serve Broward County.
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