Sotheby’s International Realty Acquires Santa Fe Realty Partners
Addition of Fast Growing Local Firm Strengthens Company’s No. 1 Market Position
Santa Fe, N.M. (Nov. 30, 2010) – Sotheby’s International Realty, Inc., a residential real estate brokerage firm representing fine properties in some of the world’s most sought-after markets, today announced it has acquired the assets of Santa Fe Realty Partners in Santa Fe, N.M. The firm will now operate as Sotheby’s International Realty. The addition of more than 100 sales associates from Santa Fe Realty Partners will broaden the reach of Sotheby’s International Realty’s existing Santa Fe operations and enhance the firm’s coverage of key areas such as Las Campanas, Tesuque, Eldorado and Abiquiu. Founded in 2007 by husband and wife Tommy Gardner and Darlene Streit, Santa Fe Realty Partners quickly became a strong player in the market. In its second year, the company achieved the fifth highest transaction volume in the Santa Fe MLS, then climbed to the third highest in 2009, and was the second highest in the third quarter of 2010. Sotheby’s International Realty’s existing two offices on Grant Avenue and Washington Avenue are ranked No. 1 in combined sales volume year-to-date on the MLS, participating in approximately 50 percent of all transactions for properties priced over $1.5 million. Gardner will now co-manage Sotheby’s International Realty’s operations in Santa Fe with Darci Burson, who has managed the firm’s Santa Fe offices since 2005. Streit will join Sotheby’s International Realty in a sales capacity. “The Sotheby’s International Realty brand has had a strong presence in Santa Fe for decades, and this transaction demonstrates its continuing commitment to serving clients throughout Santa Fe County,” said Frank Symons, executive vice president and chief operating officer of Sotheby’s International Realty’s Western Region. “Santa Fe Realty Partners is an ideal fit with Sotheby’s International Realty based on its historical performance. Their team offers a fresh perspective on the local real estate market and is well known and respected in the area, achieving an impressive level of growth in the past few years. We are excited to welcome a team that has such in-depth local expertise and mirrors our commitment to exceptional client service.”
Gardner is equally enthusiastic about the acquisition. “It’s exciting to become a part of the Sotheby’s International Realty organization,” he said. “We appreciate the company’s successful history and quality of service, and believe that our agents and clients will benefit from the enhanced regional and global presence as well as the referral opportunities the company offers. Sotheby’s International Realty provides a strong and far-reaching platform, with a name that opens doors to clients around the country and the world.” About Sotheby’s International Realty, Inc. Sotheby’s International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby’s auction house and represents fine properties at a range of price points. Today, Sotheby’s International Realty, Inc. operates brokerage offices in key metropolitan and resort markets, including Manhattan; the Hamptons; Greenwich, Conn.; Cape Cod; Palm Beach, Fla.; Beverly Hills; Brentwood; Pasadena; Santa Barbara; San Francisco; Sonoma; Monterey Peninsula; and Santa Fe, N.M. Sotheby’s International Realty, Inc. (www.sothebyshomes.com) is part of NRT LLC, the nation’s largest residential real estate brokerage company, and a member of the Sotheby’s International Realty® network, which currently has more than 10,600 sales associates located in approximately 500 offices in over 40 countries and territories worldwide. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices.