Berkshire Hathaway CEO Warren Buffet acquired one of Dallas' leading residential firm, Allie Beth Allman & Associates.
According to dallasnews.com, Allie Beth Allman & Associates focuses in selling high- end homes and has been leading in the real estate industry for 12 years now. It has been recently acquired by an affiliate of Berkshire, the HomeServices of America Inc.
Allie Beth Allman has an impressive real estate track record as her company recorded a 2,100 home sales amounting to $1.5 billion last year. Shae also revealed that she has no plan of selling her company until Berkshire called her.
She said "For them to call me was a great honor. They are recognized throughout the world for their integrity and how they operate. We are the only real estate company they bought that has only had one office."
Allman's office is located in Preston Center and currently has 300 agents that sell homes in Turtle Creek, Park Cities, Lakewood, Uptown and North Dallas.
Ron Peltier, HomeServices' chairman and CEO, said "Allie Beth Allman & Associates is a strong company with an exceptional reputation in a growth market. This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values."
In a report by wfaa.com, Berkshire Hathaway took interest in Allie Beth Allman & Associates due to its reputation as the "highest-grossing, single office residential real estate firm in Dallas."
Both parties are optimistic with the purchase though both of them decided not to reveal the details of the purchase.
Allman also added "We are proud to be part of HomeServices of America. We are joining an organization known for its strength and stability; one that is consistent with our high standards of service, integrity and community involvement, making this a win- win for our clients and our agents."
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