Consolidation in Connecticut’s realty broker market continues with Ridgefield-based Coldwell Banker Residential Brokerage buying up Prestige Properties LLC in Farmington, its second Hartford area realty buyout in four months.
Financial terms weren’t disclosed.
Prestige’s 34 sales associates are being absorbed into Coldwell Banker’s West Hartford sales office at 36 Lasalle Road, officials said.
Meantime, Prestige’s former owners, Wayne and Lori Arute, will continue to oversee The National Groups, their asset management company, authorities said Thursday. Prestige opened in 1986.
Last May, Coldwell bought out another central Connecticut rival, Century 21 Alaimo & Corrado in Enfield, for undisclosed terms.
Alaimo’s South Windsor office at 285 Oakland Road was merged with Coldwell’s office in that town, at 481 Buckland Road.
Coldwell Banker has 46 offices with more than 2,100 sales associates serving Connecticut and Westchester County, N.Y.
Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate broker.
