RISMEDIA, July 23, 2009-Pacific Union GMAC Real Estate, one of Northern California’s leading luxury real estate brands is being acquired by the principals of Morgan Lane Marin, Inc., a fast-growing boutique real estate firm with operations in Marin county.
According to the company, bucking the odds in a highly volatile, recession-stymied real estate market, Morgan Lane Marin has grown meteorically, from just $52 million in sales in 2006 to $315 million in 2008.
Combined, the two entities will have 17 offices, more than 430 real estate professionals and 2009 sales volume projected to be $2.2 billion, according to Mark A. McLaughlin, CEO of Morgan Lane.
The goal of the combined operations is to become the Bay Area’s leading luxury real estate brand- an objective Mark A. McLaughlin, CEO of Morgan Lane said will be achieved by retaining and recruiting the industry’s top-producing professionals and leveraging resources and international marketing programs of Christie’s Great Estates.
“It’s a business philosophy that has proven itself at Morgan Lane in Marin County,” said McLaughlin. “With Pacific Union’s strong reputation and platform, coupled with Morgan Lane’s agile and entrepreneurial local management and marketing methods, we have every reason to believe that we are well positioned to become Northern California’s dominant luxury real estate brand.”