Baltimore-based Yerman Witman Gaines & Conklin Realty said Friday that it has been acquired by a Pennsylvania residential real estate company for an undisclosed amount.
The merger brings together Prudential Homesale Services Group's 950 real estate agents in 21 Pennsylvania locations with YWGC's 190 agents in five offices. The new company will be called Prudential Homesale YWGC Realty and will have dual headquarters in Lancaster and Baltimore.
Prudential Homesale saw the acquisition as a way to break into the Maryland market, while YWGC expects "significantly more exposure" for its listings, company officials said in statements.
YWGC, which includes mortgage affiliate Mortgage Master, is the residential real estate division of The Strata Group. Strata's Sopher Law Firm and Real Estate Title and Escrow, also known as The Continental Title Group, were not part of the acquisition.
Michael Yerman, Marc Witman, Brandon Gaines, Bob Merbler and Cindy Conklin, YWGC's founders and partners, said they will be investors and principals in the new company.