IE Business Daily Business news for the Inland Empire.
An Upland-based affiliate of Century 21 Real Estate LLC has been purchased by another affiliate of that company.
The office of Century 21 Prestige was bought for an undisclosed sum by Century 21 Peak in Los Angeles, a real estate brokerage firm and a member of the Peak Corporate Network of companies, according to a statement.
Cost of the transaction, which became official Thursday, was not released.
About 80 agents work at the office at 255 W. Foothill Blvd. That office will specialize in residential transactions in Upland, Claremont, Rancho Cucamonga and nearby communities, said Gil Priel, a partner and owner with Century 21 Peak.
None of those agents are expected to lose their jobs.
“Actually, our plan is to add to that office over time,” Priel said. “This is major move for us. It was a chance to expand in the Inland Empire, and we took advantage of it.”
This is the second time that Century 21 Peak, which is undertaking a five-year effort to increase its market share in Southern California has purchased a brokerage in the Inland Empire recently. The company bought Weichert Realtors in Upland several months ago, Priel said.
