Pacific Union International, The Mark Co. to Join Forces
- Oct 21, 2015
By Barbra Murray, Contributing Editor
Pacific Union International Inc., the San Francisco Bay Area’s premier luxury real estate brand, is positioning itself to pack an even more powerful punch with the planned acquisition of The Mark Co., a leading urban residential marketing and sales firm with a foothold in the Western U.S.
Pacific Union isn’t disclosing any details on the financial terms of the acquisition, but the dollar signs associated with The Mark Co.–it has produced in excess of $5 billion in sales since its formation in 1997–offer an indication of its value.
But it’s not just an enviable sales track record that The Mark Co. brings to the table; the firm boasts a unique expertise in the marketing and sales of new residential developments, an area of the market that is of keen interest to Pacific Union. After all, the luxury condominium sector is on fire on the West Coast and growing at a rapid pace, and with The Mark Co. onboard, Pacific Union is well positioned to increase its prominence in this area.
“What’s next for Pacific Union International will be resourcing the strong talents and capability of The Mark Co. team for growth in the Western U.S. urban and resort markets including Los Angeles, Las Vegas, Portland, Seattle and San Francisco,” Mark McLaughlin, CEO of Pacific Union, told Commercial Property Executive. “We believe in investing in people and The Mark Co. will take us into this new arena of residential real estate with undeniable strength and experience.”
The merger is on track to close Nov. 2. The Mark Co. will maintain its identity, keeping its name and operating under the Pacific Union International banner.
“This will be a powerful, game-changing partnership,” Alan Mark, founder & president of The Mark Co., said in a prepared statement. “By leveraging each other’s strengths, our services and global reach to buyers will be enhanced for our developers, while our internal team will benefit from Pacific Union International’s depth of resources.”