Morgan Lane Marin's Acquisition of Pacific Union Real Estate Complete
Posted by Gary Marsh — August 9, 2009
PACIFIC UNION AND MORGAN LANE MARIN FOLDED INTO LOCALLY OWNED PACIFIC UNION INTERNATIONAL INC.
San Francisco, Calif. (August 10, 2009) – Weeks after announcing the planned sale of Pacific Union Real Estate to Morgan Lane Marin, Mark A. McLaughlin, chief executive of Morgan Lane Marin, announced that he had formed a new company to complete the acquisition and that the sale had closed. The new owner of both Pacific Union (www.pacunion.com) and Morgan Lane Marin, Inc. (www.morganlanemarin.com) is Pacific Union International, Inc. with McLaughlin as CEO.
“We changed the ownership entity of the two companies for business, management and accounting reasons but otherwise the sale closed as expected and the integration is off to a good start,” explained McLaughlin.
“Since making the announcement to buy Pacific Union and returning it to its roots as a strong, regionally focused boutique firm, we’ve had very positive response from Pacific Union and Morgan Lane real estate professionals and managers. In fact, numerous Pacific Union real estate professionals told me that it was like coming home,” said McLaughlin.
The deal combines two of Northern California’s leading luxury real estate brands into one locally owned and operated management team. Combined, the two entities have 17 offices, more than 430 real estate professionals and 2009 sales volume projected to be $2.2 billion.
Morgan Lane in Marin and Pacific Union will continue to operate under their existing names.
McLaughlin said that work is underway to become the Bay Area’s leading luxury real estate brand by retaining and recruiting the industry’s top-producing professionals and leveraging resources and international marketing programs of Christie’s Great Estates.
“Within the next sixty days our professionals and their clients will begin to notice a locally empowered, nimble, entrepreneurial Pacific Union. During my introductory meetings with professionals in each of the Pacific Union offices, many referenced how the new direction is strikingly similar to the culture established by the founders 34 years ago,” McLaughlin added.
“Mark and the entire management team are genuinely committed to continuing the great traditions we’ve established at Pacific Union by further enhancing our brand and providing clients with the finest real estate services available. It’s all very good for us and for our clients,” said Vice President Pam Hoffman, a 20-year Pacific Union veteran and manager of the firm’s offices in Berkeley and the Montclair District of Oakland.
Pacific Union started in San Francisco as a locally owned and operated, high-end boutique brokerage in 1975. The company has offices in Berkeley, San Francisco (Opera Plaza), San Francisco (Presidio), Danville, Larkspur, Mill Valley (downtown), Mill Valley (Strawberry), Montclair, Napa Valley (Napa), Napa Valley (St. Helena), Orinda, Sonoma and Sonoma Plaza.
Morgan Lane specializes in the marketing of luxury properties in the North Bay area. Relying on smaller, boutique-oriented offices to better serve its luxury clientele, the company has four offices. These include: Kentfield, Ross, Mill Valley and Belvedere. CEO Mark McLaughlin is a highly accomplished and respected real estate executive whose experience includes senior management roles with Colliers International, Jones Lang LaSalle, LoopNet, and Sperry Van Ness International. He, with his experience and vision, combined with the seasoned group of Pacific Union and Morgan Lane executives, will make up a formidable leadership team.
About Morgan Lane
Morgan Lane Marin (www.morganlanemarin.com) was founded in 2006, and is a fast-growing real estate brokerage firm specializing in luxury properties in Marin County. The company’s team philosophy and unique marketing and advertising strategies distinctly set it apart from other real estate firms. Its real estate professionals consistently outperform market standards by achieving the highest average sales price and the lowest average days on market.
About Pacific Union Real Estate Since 1975, Pacific Union Real Estate (www.pacunion.com) has thoughtfully matched generations of buyers and sellers throughout the entire Bay Area. Pacific Union focuses on delivering outstanding quality and unparalleled service to a full spectrum of discerning clients. It has been an innovator in delivering new technology applications designed to enhance the experience of both home buyers and sellers. Pacific Union is associated with Christie’s Great Estates, an international network of independent companies that specialize in marketing luxury residential real estate.
For more information, contact:
Gary Marsh, Marsh Marketing and Public Relations for Pacific Union International, Inc.
Karen Monroe, Marketing Director at Pacific Union