Coldwell Banker Real Estate LLC is an American real estate franchise owned by

Anywhere Real Estate Anywhere Real Estate Inc., formerly Realogy (), is an American Public company, publicly traded real estate services company. It owns and franchising, franchises several real estate brands and brokerages, and offers consumer programs, lead genera ...

, with headquarters in Madison, New Jersey. It was founded in 1906 in

San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

, and has approximately 3000 offices in 49 countries and territories. It publishes an annual house price guide, ''Home Listing Report''. The company does not issue loans; its name refers instead to a former managing partner.

History

After the devastating

1906 San Francisco earthquake At 05:12 AM Pacific Time Zone, Pacific Standard Time on Wednesday, April 18, 1906, the coast of Northern California was struck by a major earthquake with an estimated Moment magnitude scale, moment magnitude of 7.9 and a maximum Mercalli inte ...

and fires, Albert Nion Tucker, Colbert Coldwell and John Conant Lynch formed Tucker, Lynch and Coldwell on August 27, 1906. Benjamin Arthur Banker joined the firm as a salesman in 1913, and became a partner in 1914. The company changed its name to Coldwell, Kern & Banker in 1918. In 1919 the name became Coldwell, Kern, Cornwall & Banker, and in 1920, Coldwell Cornwall & Banker. Cornwall retired in 1940, and the company name changed again to Coldwell, Banker & Company, which was shortened to Coldwell Banker in 1974. Banker and Coldwell remained active in the company throughout their lives. In 1920, Coldwell Banker moved to a three-story building in San Francisco. It opened an office in

Phoenix, Arizona Phoenix ( ) is the List of capitals in the United States, capital and List of cities and towns in Arizona#List of cities and towns, most populous city of the U.S. state of Arizona. With over 1.6 million residents at the 2020 census, it is the ...

, its first outside California, in 1952. In the 1970s the company expanded by acquiring firms in Atlanta, Chicago, and Washington, D.C. The first international Coldwell Banker office opened in Toronto, Canada in 1996. Coldwell Banker & Company became a corporation in 1961, and went public in 1968. In 1981 it was bought by Sears, Roebuck, and became part of the Sears Financial Network. In 1989, Sears sold Coldwell Banker's commercial unit to a management-led buyout group including

The Carlyle Group The Carlyle Group Inc. is an American multinational company with operations in private equity, alternative asset management and financial services. As of 2023, the company had $426 billion of assets under management. Carlyle specializes in ...

for approximately $300 million. As part of the sale, the residential unit retained the Coldwell Banker name; the commercial group has changed names several times after the sale and various mergers and acquisitions, and is now CBRE Group. Sears sold Coldwell Banker's surviving residential unit to the Fremont Group, a California investment company, for $230 million in 1993. It was sold to HFS Inc., later Cendant, in 1996. When Cendant broke up in 2006, the real estate businesses were spun off as Realogy, which was sold to

Apollo Management Apollo Global Management, Inc. is an American Asset Management, asset management firm that primarily invests in alternative assets. , the company had $548 billion of assets under management, including $392 billion invested in credit, including ...

for about $7.75 billion. In 2022, Realogy rebranded as

, Inc.

Philanthropy

In 2006 helped to raise $5 million to support 100

Habitat for Humanity Habitat for Humanity International (HFHI), generally referred to as Habitat for Humanity or Habitat, is a U.S. non-governmental, and tax-exempt 501(C)(3) Christian nonprofit organization which seeks to build affordable housing. The international ...

homes to commemorate its 100th anniversary. In February 2015 it collaborated with Adopt-a-Pet.com, a dog adoption website.

References

{{Authority control Real estate companies established in 1906 Real estate services companies of the United States Realogy brands Franchises Private equity portfolio companies American companies established in 1906 Companies based in Morris County, New Jersey Apollo Global Management companies

History

Philanthropy

See also

References