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Randall Realtors announced Friday that it has acquired the Guilford-based Page Taft real estate firm, which will extend Randall's reach from Cape Cod into the New Haven area.
Doug Randall, founder and chief executive officer of Randall Realtors, said the acquisition reflects his firm's optimism about prospects for this year's real estate market.
"This merger expands Randall, Realtors' family of companies to 26 offices along the coast across three states," he said. "It confirms our confidence in the southern New England real estate market as we head into 2012."
Randall, Realtors is based in southern Rhode Island and has local offices in Norwich, East Lyme and Mystic. Page Taft has offices in Guilford, Madison and Essex.
Two years ago, Randall, Realtors expanded its Massachusetts footprint when it acquired Kinlin Grover, the largest real estate company serving Cape Cod. The family-owned Randall, Realtors was founded by Doug Randall 34 years ago. As a result of this latest acquisition, Randall announced a new corporate name, The Randall Family of Companies, which covers all three real estate firms and their nearly 500 sales professionals.
The Randall Family of Companies includes residential and commercial real estate, summer and yearly rentals, second-home sales, relocation services, property management, commercial leasing and investment properties.
Randall officials said Page Taft will retain its own identity and former owner Karen Stephens will oversee Page's three-office operations. The merged companies will continue their affiliation with Christie's International Real Estate in Connecticut.
"We match up very well moving forward," said Stephens in prepared remarks. "In addition, both companies have recently affiliated with Real Living, so we already share a common brand ... We've gotten to know each other through this relationship, so the transition will be nearly seamless." The Real Living network represents 10,000 real estate professionals across the globe.
Randall is now one of the largest real estate companies in Connecticut, with a geographic footprint extending from New Haven through Windham and New London counties as well as across Rhode Island. Randall also is ranked as the country's 129th largest residential real estate firm.