PenFed Continues Realty Firm Buying Spree
Three weeks after announcing it had acquired a Florida commercial and residential real estate firm, Prudential PenFed Realty is set to buy another realty company in Kansas.
Prudential PenFed Realty is owned by the $15 billion Pentagon Federal Credit Union in Alexandria, Va.
The latest acquisition nearing a closing date is with Prudential Dinning-Beard, a Wichita, Kan.-based realty firm with 275 agents. The acquired company will continue to operate under its name, according to Prudential PenFed Realty. Financial terms of the transaction were not disclosed.
In mid-November, Prudential PenFed Realty said it acquired Prudential Coastal Properties, a realty firm that offers buying and selling services for residential and commercial properties ranging from empty lots to multi-million dollar homes to business buildings from Pensacola to Panama City, Fla.
With 40 offices and more than 1,000 employees Prudential PenFed Realty said it offers service coverage in the Maryland, Northern Virginia, West Virginia, Pennsylvania, Delaware and Washington, D.C., markets as well as parts of Tennessee, Kentucky, North Carolina, Texas and Florida.
The real estate company said it has annual sales volume of more than $1.7 billion, serving PenFed members as well as the general public.
In July, Prudential PenFed Realty acquired the Prudential Professional Realty franchise in Clarksville, Tenn.