Breaking: Allie Beth Allman Sells to Warren Buffett Real Estate
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Huge news in the Dallas high-end broker industry: Dallas’ own Allie Beth Allman & Associates has sold to Warren Buffett’s Berkshire Hathaway.
I’ve suspected that something’s up with Allie Beth Allman & Associates for a couple of weeks now, but couldn’t put my finger on it. Last week, I got word that Allie Beth’s affiliation with Christie’s Great Estates, now known as Christie’s International Real Estate, had been severed. While I was tracking that and speaking to Realtor Duke Jimerson at an event Thursday night, who said he knew nothing about it, the Dallas Morning News‘ Steve Brown was hot on the trail of an even bigger story. He reports that HomeServices of America, Inc. a Berkshire Hathaway affiliate, has snapped up Allie Beth Allman & Associates, a luxury real estate firm that’s done $1.5 billion in sales.
One of Dallas’ top residential sales firms has been purchased by investor Warren Buffett’s growing real estate empire.
Allie Beth Allman & Associates—a 12-year-old local real estate sales company that specializes in high end home sales—has been acquired by HomeServices of America Inc., a Berkshire Hathaway affiliate.
Allie Beth Allman is one of North Texas’ top residential firms, and sold about 2,100 houses last year valued at $1.5 billion.
“Allie Beth Allman & Associates is a strong company with an exceptional reputation in a growth market,” Ron Peltier, HomeServices’ chairman and CEO, said in a statement. “This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values.”
Terms of the purchase were not disclosed.
Allie Beth Allman has more that 300 agents and sells homes in markets including North Dallas, the Park CitiesTurtle Creek, Uptown and Lakewood.
She’s personally handled marketing for some of the largest estates in North Texas, including businessman Tom Hicks’ $100 million estate in North Dallas.
The acquisition is Buffet’s HomeServices entry into real estate in Texas.
The company—the second largest U.S. property sales firm—has about 26,500 real estate agents operating in 480 offices in 27 states which operate under a variety of brand names, including Prudential Real Estate and Real Living Real Estate.
“We are joining an organization known for its strength and stability; one that is consistent with our high standards of service, integrity and community involvement, making this a win/win for our clients and our agents,” Allman said.
The Crespi Estate is not the only uber high end mansion Allman has listed. The $46 million Crow estate on Preston Road was also marketed by Allie Beth, but was taken off the market last week for, says Allie Beth, a holiday break.
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Ok so now im buying a house from the warren buffet allie beth allman briggs sotheby frost bank edward richards stevens team?
It makes me wonder if this means Ebby is too large to acquire or they just said “no” to Mr. Buffet?
[…] I’m hours away from my flight home to Dallas and figured it was time for a Hawai’ian roundup (and share some odd pictures with no meaning beyond amusement value). This year I chronicled my real estate travails in Hawaii for Secondshelters.com. It started innocently enough with an interview with the local Berkshire Hathaway Home Services president Tracey Bradley. I wanted to understand what Berkshire brought to the table as the news was still fresh that Allie Beth Allman had recently been acquired by Berkshire. […]