The acquisition of the Massachusetts-based brokerage marks Lamacchia Realty’s tenth acquisition within the state over the previous 16 months, including workplaces in Newburyport and Amesbury.
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New England-based Lamacchia Realty has continued its path to growth with the acquisition of Massachusetts-based Stone Ridge Properties, the brokerage introduced on Tuesday.
For greater than a yr, Lamacchia Realty has been rising its footprint in Massachusetts, and the addition of Stone Ridge Properties marks its tenth acquisition within the state, the agency famous.
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“I’m extremely excited to finally substantially grow our presence on the North Shore, and up the New England coast,” Lamacchia Realty dealer/proprietor Anthony Lamacchia stated in an announcement.
“This merger will also add significantly to our luxury sales. The owners of Stone Ridge Properties have created a tremendous company that happens to be a seamless cultural fit for us. There is no doubt that bringing our two companies together makes us all stronger and that is so exciting. We are looking forward to great success as we join forces.”
Stone Ridge Properties has been in enterprise for greater than 30 years and serves the North Shore of Massachusetts, Southern Maine and Southern New Hampshire. The agency has workplaces in Newburyport and Amesbury, which will probably be transformed to Lamacchia Realty workplaces.
Stone Ridge Properties and Lamacchia Realty management from left to proper: Jackie Louh, Tim Robinson, Nick Motsis, Celine Muldowney, Sandy Berkenbush, Cathy Toomey, Erica Puorro, Marc Ouellet, Massoud Attallah, and Anthony Lamacchia | Courtesy of Lamacchia Realty
The acquisition brings Stone Ridge Properties house owners Cathy Toomey, Celine Muldowney, Erica Puorro, Marc Ouellet, Nick Motsis and Sandy Berkenbush into Lamacchia Realty’s fold, in addition to 33 brokers from the agency. With a powerful luxurious market presence, as Lamacchia famous, Stone Ridge Properties’ brokers will give the brokerage a lift in that market sector.
Lamacchia has been open in regards to the agency’s push for growth, telling Inman in July that the brokerage was “100 percent on offense.” At the moment, Lamacchia Realty had simply introduced on M&A consultant Massoud Atallah, previously of Wherever Actual Property, to assist information the brokerage’s development efforts.
A press assertion from the brokerage defined that Atallah, with the help of Enterprise Growth Mergers & Acquisitions Supervisor Tim Robinson, brokered the cope with Stone Ridge’s house owners. The monetary phrases of the deal weren’t disclosed.
Stone Ridge Properties’ house owners talked about Lamacchia Realty’s tradition, instruments and agent help as incentives for becoming a member of the agency.
“It was important to me to affiliate with a company that was not a franchise and that shared my core beliefs of integrity and service to the client,” stated Stone Ridge Properties proprietor Cathy Toomey. “Lamacchia fits that bill and has amazing support for their agents.”
Proprietor Erica Puorro added, “I couldn’t be more excited about joining forces with Lamacchia Realty. I’ve long admired their commitment to training, cutting-edge marketing and technology, and Anthony Lamacchia’s leadership is truly inspiring. This collaboration brings tremendous opportunities for our clients, agents and me, setting us all up for remarkable success.”
