Coldwell Banker buys Preferred Properties
Coldwell Banker Residential Brokerage of Waltham, Mass. — the largest residential real estate brokerage company in New England — has bought Preferred Properties Inc. of Moultonboro.
The purchase price was not disclosed.
In 2003, Preferred Properties’ 31 residential real estate sales associates and support staff completed sales totaling $115 million.
The firm will do business as Coldwell Banker Residential Brokerage Preferred Properties.
Under the terms of the sales agreement founder Mel Borrin will remain affiliated with the company and work as a consultant.
Borrin — who founded the company in 1967 — has retained ownership of Preferred Vacation Rentals, and his son, Mark, will continue to manage it.
Scott Rolfe, who manages Preferred’s residential sales office, will stay on in that position, becoming Coldwell Banker’s senior manager in New England.