Beverly Hills-based John Aaroe Group is merging with San Francisco’s Pacific Union International Inc., the ninth-largest real estate brokerage in the United States by sales volume, the companies announced Wednesday.
Terms of the deal were not disclosed.
“This strategic collaboration with Pacific Union delivers on our brokerage's mission to expand our international reach and accelerate the adoption of the most advanced technology and innovative thinking for our real estate professionals in the industry today,” John Aaroe, the firm’s president, said in a statement.
John Aaroe Group has eight other offices in the L.A. area in addition to its Beverly Hills headquarters. The firm participated in 2,834 closed transactions in 2015 with a combined market value of over $2.3 billion, according to the company.
One of its most high-profile deals was the $70 million sale in 2014 of a 23,000-square-foot mansion to Swedish billionaire Markus Persson, the inventor of the Minecraft video game. The deal is the highest-priced home sale to date in Beverly Hills.
You May Also Like
- Partners Trust Brokerage to Merge with Pacific Union International
- Merger Deals Link Local Brokerages
- Top Residential Brokerages Near $90B Mark in ‘17
- Brokerage Unions Unlikely to Faze L.A. Market
- Union Bank Plaza Owners Face Property Gluts
- Bradbury House in Pacific Palisades Sold for $12 Million
- Big Rent Spreads Point to Industrial Vitality
- LA 500: John Aaroe