PenFed Real Estate Arm Buys Tennessee Prudential Franchise
Prudential PenFed Realty, a real estate subsidiary of the $15.2 billion Pentagon Federal Credit Union in Alexandria, Va., said Monday it has acquired the Prudential Professional Realty franchise in Clarksville, Tenn.
Prudential PenFed said that its decision was made to bolster its presence in the greater Clarksville area and to provide better service to military personnel at the Army’s nearby Fort Campbell.
The acquired agency managed more than 500 rental units and had nearly 60 agents, with $155 million in sales volume in 2011, the credit union said.
"Having run Prudential Professional Realty since 1994, I find it exciting to see it become part of a larger company with a solid reputation for providing top realty and financial services across the country," said Bobby Powers, broker and owner of Prudential Professional. "The combined resources will really help homebuyers get the most bang for their buck."
Prudential PenFed has annual sales volume in excess of $1.7 billion and is ranked in the top 1% of Prudential affiliates nationwide, the credit union said.
The agency has 40 offices in Maryland, northern Virginia, West Virginia, Pennsylvania, Delaware and Washington, D.C., North Carolina and Texas.