The group currently has 14 shareholders, each with equal stake in the company. Company president and broker David Wallach tells GlobeSt.com that the acquisition of the local operation follows the stabilization of the previous acquisitions. As of Sept. 15, he says, the offices have eclipsed the annual revenue they generated in each of the past two years.

Wallach says that current ownership will seek to take on additional shareholders from within the city's employee base. The opportunity will be given to brokers who perform over a period of time and have the right personality. "We continually strive to create an environment that rewards success," says Wallach. "By keeping the ownership within our employee base, we ultimately control its success."

John Torode incorporated Torode Realty in Calgary, Alberta in 1973. In the 1990's, the firm acquired the Canadian operations of Knowlton Realty and Calgary-based Merrett Management, creating the second largest commercial brokerage/management firm in Canada. In 1997, the firm began trading publicly. Senior members of the company launched their buyback of the brokerage arm in 2001. In August 2003, trading of Torode Realty Ltd. was halted after it announced it had arranged for the sale of the remainder of its real estate-related assets and entered into a reverse merger agreement with CMQ Resources Inc., a mining exploration company.