WASHINGTON — Long & Foster Real Estate Inc. is getting a bigger foothold in D.C.’s new condo sales and marketing business, acquiring Urban Pace for an undisclosed sum.
Urban Pace, founded in 2001, works directly with real estate developers to bring buyers to their condominium projects. In D.C., it has helped developers market and sell more than 5,000 condos.
It expanded recently to New York City and Philadelphia.
The deal gives Urban Pace a direct working relationship with Long & Foster’s more than 11,000 agents.
Financial terms of the deal weren’t disclosed, but Urban Pace will continue to operate under its brand name and management.
Urban Pace President Lynn Hackney is now chief executive of the firm. Matt Dewey, a longtime Urban Pace executive is now president.
Follow @WTOP on Twitter and like us on Facebook.
© 2016 WTOP. All Rights Reserved.