Jan 23, 2009
Hampton Roads merger discussion thread
23 Jan 2009
Posted by Andrew Kantor
(Thought I’d try this: Some of the blogs I read will occasionally have “discussion threads” — news-related posts that are bound to get people talking, and where the writer doesn’t say much. So here’s this.)
From the press release, “Three Longstanding Hampton Roads Real Estate Firms Merge to Form Prudential Towne Realty”:
GSH Realty, Prudential Decker Realty, and Prudential McCardle Realty have merged to create a pretty big real estate company in Hampton Roads — about $1 billion in combined closed sales volume in 2008.
The new company will operate as an affiliate of TowneBank, “with 12 offices, four satellite offices, 500 sales professionals and a complete range of real estate services.” Its reach will be from southeastern Virginia, the Peninsula, and North Carolina’s Outer Banks.
Barbara Wolcott will be chairman and CEO. Kimber Smith and Carol “Randy” Smith will be president and senior vice president of the company’s Peninsula operations.