Portland, Oregon-based brokerage John L. Scott Real Estate will acquire fellow Portland real estate company Meadows Group Inc., Realtors, John L. Scott Real Estate announced on Tuesday.
The new partnership will fold Meadows Group Inc., Realtors under the John L. Scott brand, positioning the combined company to own the third largest market share in the Portland area, according to a press release issued by John L. Scott Real Estate.
Meadows Group was founded in 1994, and has provided residential, investment and development services to clients throughout Portland and its surrounding neighborhoods. The company’s two offices (in East and West Portland) are co-owned by principal brokers Eva Sanders and Heather Adams.
“When seeking a company to partner with as we transition to the next phase of our lives, it was extremely important to us that we selected a company that not only has access to stellar tools and systems, but is closely aligned with our unique culture at the Meadows Group,” Sanders said in a press release.
“We are very proud of our team’s nearly 27 years of successfully delivering real estate services to their clients with professionalism and ethics at the center of every transaction,” Adams added in the statement. “John L. Scott’s core value of ‘Living Life as a Contribution’ along with their unending commitment to delivering ‘Transactional Excellence’ just further solidified that they were the right choice.”
The acquisition will add nearly 100 agents and brokers to John L. Scott’s 3,000-broker ranks, which also operate in the states of Washington, Idaho and California. While Sanders and Adams will stay on as integral members of the company, according to John L. Scott Real Estate, their exact roles and titles are still to be determined.
“We are so excited to partner with Meadows Group and are honored that Eva and Heather trusted us to walk alongside them as they begin their next chapter,” Phil McBride, John L. Scott Real Estate COO and CFO, said in a statement. “Our move to join forces together only enhances what we have to offer our broker associates and clients in the Portland metro area.”
The partnership comes just a few months after John L. Scott Real Estate launched a new iBuyer platform, Instant Purchase Plus+, powered by end-to-end iBuyer platform zavvie.