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$105 Million Dollar Real Estate Merger Announced

Century 21
Pittsburgh Broker’s Council

For Immediate Release
Contact: Larry Ciptak (724) 407-3806

 

$105 Million Dollar Real Estate Merger Announced

 

Pittsburgh, PA (January 24,1998)—The creation of the fourth largest privately held real estate company in the region was announced Tuesday. The new mega-company—Century 21 West Penn, LLC—was created through the merger of three core real estate firms and the acquisition of a fourth.

The merger includes Hosack Real Estate Better Homes and Gardens, with offices in Wexford and Cranberry Township, Century 21 DiCesare Real Estate, of Greensburg, and Century 21 Massie/Giant Oaks in McMurray. Century 21 Arrow Realty of Murrsyville was acquired by the Century West Penn LLC. The administrative office for Century 21 West Penn, LLC is on Perry Highway in Wexford.

The formation of the new company affects nearly 150 licensed real estate agents and over $50 million in real estate in a five-county area.

Century 21 West Penn, LLC is offering stock options to their associates. They are also offering consumers a “75-Day Guaranteed Marketing Program,” which guarantees the sale of a home in 75 days or they’ll pay the homeowner $500 when it does sell.

Bob Moles, the President of Century 21, flew into Pittsburgh from the New Jersey corporate office to address luncheon attendees and to baptize the new firm. He was joined by several other corporate officers from the New Jersey headquarters.

The new firm now owns more Century 21 offices than any company in the 19-state eastern region, said Vice President Patrick DiCesare. According to DiCesare, Century 21 West Penn, LLC is looking to expand even further, and is busy scheduling interviews with real estate agents from other companies “looking for a better career opportunity.”

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