Raveis Real Estate acquires Niantic-based Heritage Properties

William Raveis Real Estate has acquired Niantic-based Heritage Properties, a leading agency in New London County with more than $150 million in sales volume and close to 60 employees, effective today. Financial terms were not disclosed.

The acquisition by Raveis, whose corporate headquarters is in Shelton, strengthens the company”™s position on the Connecticut shoreline. The company claims the combined firms obtain No. 1 market share in New London County, based on both 2017 closed volume and closed units – which Raveis said is approximately 40 percent higher than the nearest competitor.

Raveis will also acquire Heritage”™s real estate training school, The Academy of Professional Education in Niantic.

“We are thrilled to welcome these talented Heritage agents led by co-owners Ann Carpenter, Bill Heenan, David Saindon and Mary Poola, who are reputable experts in their market and region, to our growing Raveis family,” said Chairman and CEO Bill Raveis. “This is a natural fit: Our business cultures and philosophies are very much aligned.”

Raveis Real Estate employs over 4,000 people in 130 offices across nine states, resulting in $10.2 billion in real estate sales in 2017. William Raveis Mortgage Co. has financed almost $11 billion of residential mortgages since its inception, and its insurance company represents approximately 8,200 clients consisting of approximately 13,000 current policies with 26 major carriers.