One of the city’s largest residential real estate agencies is now part of business magnate Warren Buffett’s empire.
Prudential Indiana Realty Group became Berkshire Hathaway HomeServices Indiana Realty, effective Tuesday.
Kevin Kirkpatrick and John Dick founded Prudential Indiana in 1980, building it into a local real estate powerhouse.
With home sales of $900.9 million last year, the Prudential Indiana office ranked as the metropolitan area’s third-largest real estate agency, trailing only FC Tucker Co. Inc. and Century 21 Scheetz, according to IBJ statistics.
“Affiliating with Berkshire Hathaway, with the full strength of Warren Buffet behind us, is one more step in our proven commitment to innovation and quality service,” Kirkpatrick said in a written statement.
As of 2013, Prudential Indiana had 14 offices and 383 licensed agents, according to IBJ statistics.
Prudential Indiana’s move to Berkshire Hathaway follows Omaha, Nebraska-based Berkshire Hathaway’s Inc.’s purchase of the Prudential and Real Living brands in October 2012.
HomeServices of America Inc., an affiliate of Berkshire Hathaway, bought the franchises from Toronto-based Brookfield Asset Management Inc.
As of 2011, Prudential and Real Living had annual sales of $72 billion and more than 53,000 agents in roughly 1,700 locations nationwide.
The combined company's headquarters is in Irvine, California, where Prudential was based.