SAN FRANCISCO—Pacific Union International Inc.'s acquisition of The Mark Company is scheduled to close next week on November 2. The acquisition supports Pacific Union's recent move into the residential development sector.
The Mark Company has represented more than 10,000 residences and generated more than $5 billion in sales for developments in the Western United States. It will continue to operate with its brand name under the banner of Pacific Union International Inc. The company's president, Alan Mark, with executive vice president and managing principal, Krysen Heathwood, join Pacific Union's Hans Treuenfels and Doug Shaw. Mark, Treuenfels and Shaw were at Pacific Union earlier in their careers. Treuenfels and Shaw assume the title of principal in the new organization.
This joining of forces will meet the demand centered around urban cores. According to recent municipal reports, projected growth for new housing in San Francisco includes 30,000 new housing units to be built during the next 10 years, with a need for 188,000 new housing units in the Bay Area by 2022. In a market constrained by raw land, these new units primarily will be urban high-rise condominiums.
Mark tells GlobeSt.com: “The San Francisco Bay Area and the West Coast are experiencing a phenomenal demographic shift to urban living–The Mark Company is considered to be an expert in design, marketing and sales of new development opportunities. Pacific Union will provide intellectual capital, financial capital and international reach to access a net new demographic of high-net worth individuals looking to live in or invest in our new development projects.”
In the summer of 2015, Pacific Union was named in the Inc. 5000 list, which ranks the 5,000 US fastest-growing private companies. Since its first appearance on the list in 2013, the brokerage has moved up the list more than 1,000 places–from 3,433 in 2013 to 2,403 in 2015. In February 2015, Pacific Union was ranked as the ninth-largest US brokerage in both RISMedia's 2014 power broker report and the REAL Trends 500 list with 2014 sales volume of $6.75 billion. The brokerage leads the Bay Area in residential real estate transactions in the sales greater than $3-million category. During the past three years, Pacific Union has grown revenue by 158%.
Pacific Union CEO Mark A. McLaughlin, tells GlobeSt.com: “Our acquisition of The Mark Company, the nation's premier sales and marketing team for residential high-rise developments gives us a stronghold in competitive markets across the West. While our two companies are both in the real estate business–the cultural match of our two brands demonstrates how highly we value people. We are in the people business and if we don't get the people right, nothing else really matters. The shared history of Alan Mark, president of The Mark Company, with principals Hans Treuenfels and Doug Shaw provides an dynamic foundation for us to move forward into this exciting arena.”
As previously reported, Mark spoke with GlobeSt.com about the San Francisco multi-family market.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
