PRESS RELEASE: HomeServices of America® Announces Acquisition of Denver–based Kentwood Real Estate

MINNEAPOLIS, MINN. (June 23, 2016) – HomeServices of America, a Berkshire Hathaway affiliate, today announced the acquisition of Kentwood Real Estate, one of Denver’s leading residential real estate brokerage firms, and its affiliated rental and commercial businesses. Terms were not disclosed.

Kentwood Real Estate has more than 200 agents serving the Denver metropolitan area and surrounding communities from three strategically located offices in the Denver Technological Center, Cherry Creek, and downtown Denver.

In 2015, Kentwood earned the No.1 ranking in Colorado and the No.3 ranking nationally for the highest average volume sold per agent and, that same year, closed nearly 4,500 transactions representing nearly $2.4 billion of volume.

Founded in 1981, Kentwood is one of Denver’s largest independent brokerage firms and its name is synonymous with top-producing agents and their unwavering commitment to providing their clients with the highest level of customer service, expertise, and resources. Peter Niederman, Kentwood’s chief executive officer, is well known for his industry expertise and leadership, as well as his extensive contributions to civic and philanthropic causes. Niederman, along with with his executive and sales-management team of Dee Chirafisi, Jim Theye, Gretchen Rosenberg, and Luisa Staerkel will continue to lead the firm’s growth initiatives and manage
day-to-day operations.

“Kentwood Real Estate is a trusted resource in the communities it serves and to its buyers and sellers,” said Ron Peltier, HomeServices’ chairman and CEO. “Kentwood’s culture of service, integrity, and community involvement closely aligns with our corporate vision and emphasis on customer value and results.”

“We’ve been the leading brokerage in the Denver market for many years and this transaction makes us an even stronger organization,” said Niederman. “Joining the HomeServices family of companies creates exciting opportunities for continued growth as we serve the real estate needs of new and existing clients throughout Denver.”

“This is an important transaction to HomeServices and we are very proud to have Kentwood Real Estate join the HomeServices family,” concluded Peltier.

The acquisition represents HomeServices’ entry into Colorado and the Denver market. With this transaction, HomeServices has more than 27,000 real estate professionals operating in nearly 500 offices across 28 states. In 2015, the company’s associates facilitated over $81 billion in residential real estate sales and more than 233,000 transactions.

About HomeServices of America

HomeServices of America is the country’s second-largest residential real estate brokerage company and, through its operating companies, is one of the largest providers of integrated real estate services. HomeServices of America is the majority owner of the Berkshire Hathaway HomeServices, Prudential Real Estate, and Real Living Real Estate franchise networks.
HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. HomeServices’ operating companies offer integrated real estate services, including brokerage services, mortgage originations, title and closing services, property and casualty insurance, home warranties, and other homeownership services. HomeServices Relocation, LLC, is the full-service relocation arm of HomeServices of America, which provides every aspect of domestic and international relocation to corporations around the world.

Information about HomeServices is available at http://www.homeservices.com.

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, and are used under license with no other affiliation with Prudential.

About Kentwood Real Estate

Founded in 1981, Kentwood Real Estate is one of the most trusted names in Denver real estate. Kentwood is comprised of over 200 top-producing real estate professionals operating from three strategically located offices in the metro Denver area.

For more information, visit http://www.denverrealestate.com.