Lennar Corp. sold its Florida Berkshire Hathaway residential real estate brokerage and title services business to HomeServices of America, an affiliate of the Berkshire Hathaway led by billionaire CEO Warren Buffett.
Terms of the deal for Berkshire Hathaway HomeServices Florida Realty were not disclosed by Miami-based Lennar (NYSE: LEN), which has divested several lines of business recently to focus more on residential development. Omaha, Nebraska-based Berkshire Hathaway (NYSE: BRK) said the newly acquired residential brokerage has 40 locations in 21 Florida counties and 1,750 sales professionals. While it’s best known for residential brokerage, it also handles commercial real estate, title services, property management, foreclosure, corporate relocations, and concierge moving services.
Lennar acquired the brokerage through its purchase of homebuilder WCI in early 2017. It has operated under the Berkshire Hathaway franchise.
The deal will pair the Berkshire Hathaway brokerage in Florida with Miami-based EWM Realty International and Jacksonville-based Berkshire Hathaway HomeServices Florida Network Realty.
“We are honored and excited to be joining HomeServices,” said Mesa. “They are an outstanding organization with a world-class portfolio of real estate brands and an experienced leadership team. Becoming a member of the HomeServices’ family of companies gives us a unique opportunity to grow and better serve our customers, sales professionals, and employees.”
Following this deal, HomeServices has nearly 45,000 real estate professionals in 30 states.