Coldwell Banker Real Estate LLC is an American

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more genera ...

franchise owned by Anywhere Real Estate, with headquarters in

Madison, New Jersey Madison is a borough in Morris County, in the U.S. state of New Jersey. As of the 2020 United States census, the population was 16,937. Located along the Morris & Essex Lines, it is noted for Madison's historic railroad station becoming on ...

. It was founded in 1906 in

San Francisco San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17t ...

, and has approximately 3000 offices in 49 countries and territories. It publishes an annual house price guide, ''Home Listing Report''.

History

After the devastating

1906 San Francisco earthquake At 05:12 Pacific Standard Time on Wednesday, April 18, 1906, the coast of Northern California was struck by a major earthquake with an estimated moment magnitude of 7.9 and a maximum Mercalli intensity of XI (''Extreme''). High-intensity ...

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 was renamed Coldwell Banker in the same year. 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 ( ; nv, Hoozdo; es, Fénix or , yuf-x-wal, Banyà:nyuwá) 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 1 ...

, 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 became a corporation in 1961, and went public in 1968. In 1981 it was bought by

Sears, Roebuck Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began ...

, 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 is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and ...

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 CBRE Group, Inc. is an American commercial real estate services and investment firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. It is the world's largest commercial real estate services and investment firm (based on 2021 reven ...

. 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 Cendant Corporation was an American provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, it broke up and spun off or sold its constituent businesses. Although it was based in New Y ...

, 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 global private-equity firm. It provides investment management and invests in credit, private equity, and real assets. As of March 31, 2022, the company had $512 billion of assets under management, ...

for about $7.75 billion. In 2022, Realogy rebranded as Anywhere Real Estate, 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 US non-governmental, and nonprofit organization which was founded in 1976 by couple Millard and Linda Fuller. Habitat for Humanity is a C ...

homes to commemorate its 100th anniversary. In February 2015 it collaborated with

Adopt-a-Pet.com Adopt-a-Pet.com is North America's largest non-profit pet-adoption web service that advocates pet adoption, gathering information from over 12,000 pet shelters in the U.S. and Canada, and presenting adoptable pet data in a searchable data base ...

, 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