PRESS RELEASE
April 4, 2007
Ritchie Hallanan Real Estate and Alain Pinel Realtors Unite
Alain
Pinel’s expansion into San Francisco and North Bay includes
addition of real estate veteran Tim Murray as regional
executive and retention of founding principals David Papale
and Joe Moore.
April
4, 2007 –San Francisco, Calif. – Two of
Northern California’s most venerated real estate firms
joined forces today, announced
Alain Pinel Realtors (APR) President
and Chief Operating Officer Larry Knapp, with Alain Pinel
Realtors acquiring the assets and limited liabilities of
San Francisco-based
Ritchie Hallanan Real Estate Ltd. At the same
time, it appointed
Timothy Murray, a 29-year real
estate veteran and former President of Pacific Union Real
Estate, as Vice President and Regional Manager for San
Francisco and the North Bay.
The union gives Alain Pinel Realtors an immediate and long
sought-after, major presence in San Francisco by
association with a San Francisco boutique realty firm that
has important ties to the city. The deal comes with a
bonus, too. Ritchie Hallanan’s St. Helena office is part of
the acquisition, thus giving Alain Pinel Realtors’ direct
access to the North Bay for the first time and the
lucrative real estate markets in the North Bay’s wine
region. The addition of Tim Murray will help APR
implement a strategic plan to compete and win business in
new areas.
Joseph Gartland Moore and David Papale -- Richie Hallanan’s
owners, were each named Director of Agent Development for
Alain Pinel Realtors new San Francisco office; they are
life-long friends having met in the third grade. In
addition to operating as real estate sales professionals,
they will be responsible for agent training, mentoring and
recruiting.
“The real accomplishment today is in bringing together
three great entities in Ritchie Hallanan, Tim Murray and
Alain Pinel Realtors, while retaining Joseph Moore and
David Papale as part of the management and production team.
Their respective ties and deep
roots in the city, combined with our regional coverage,
financial resources and family-owned operating style gives
us the presence in San Francisco and the North Bay we’ve
been looking for,” said Mr. Knapp.
Monetary terms of the acquisition were not disclosed. The
two Ritchie Hallanan offices will now operate as Alain
Pinel Realtors said Mr. Knapp.
With the expansion, Alain Pinel Realtors now has 25 offices
in eight Northern California counties and over 1,200 real
estate agents. Alain Pinel Realtors, a family-owned
business, is consistently ranked in the top 10 realty firms
nationwide by RealTrends, a Colorado trade organization.
Messrs. Moore and Papale are both third generation San
Franciscans and became co-managing principals of Ritchie
Hallanan, when they founded the firm in 1993. They named
and built the business around two of the City's "Legendary"
real estate professionals, Sue Ritchie & Doris
Hallanan, who worked as partners since 1984. Mrs.
Ritchie and Mrs. Hallanan have remained associated with the
company since its formation.
Ritchie Hallanan has 22 real estate agents in San Francisco
and six in St. Helena, with both offices specializing in
high-end and luxury-class real estate – the same primary
niche enjoyed by Alain Pinel Realtors since it’s
inception in
1990. In March of 2006 Ritchie Hallanan moved the company
to its present location at 3701 Buchanan Street in the
Marina District. The charming, two-story building is
approximately 5,000 square feet and can comfortably seat 45
real estate agents. Ironically, the building was the
original location of Pacific Union Real Estate. In St.
Helena, the firm occupies approximately 1,200 square feet
in the downtown business district. Situated in the heart of
Napa Valley’s wine region, APR plans to increase its
presence among affluent home buyers and sellers in the
region.
In a joint statement, Messrs. Papale and Moore said they
wanted to take a proactive approach to growing in both
locations, so they sought a relationship with a firm that
is highly regarded by real estate professionals and the
general public.
“Alain Pinel Realtors’ reputation for running local offices
with some degree of
autonomy was appealing to us. In addition, we should
be able to capture more referral business between the
Peninsula and San Francisco,” they said. With six
offices in San Mateo County, Alain Pinel is one of the most
competitive real estate firms on the Peninsula.
Tim
Murray called the merged companies an ideal match. “I have
known Larry Knapp for the better part of 20 years and
always respected him as a competitor. I am very excited to
be working for a locally-owned company with a great brand,
and to have Joseph and David on the team. We will be able
to carry on the strong traditions of a San Francisco
professional services firm and grow in the North Bay.”
Author and real estate broker Ray Brown noted the caliber
of the people united by the business transfer and benefit
to the public: “When great minds come together, problem
solving becomes that much better, and this is a
problem-solving business. The public benefits by having a
stronger company in San Francisco and the North Bay, with
more choices in terms of the professionals they hire to
help them buy or sell real estate. Putting Ritchie Hallanan
and Alain Pinel Realtors together is a case of one-plus-one
equals three,” he said. Brown was the 16-year host of “Ray
Brown on Real Estate,” which aired on
KNBR, and is
co-author of the books
Home Buying for Dummies,
House Selling for Dummies and
Mortgages for Dummies. He started as
a real estate agent in 1974.
About Alain Pinel Realtors
Founded by Paul Hulme in 1990, Alain Pinel Realtors has
redefined the business of residential real estate and now
has 25 prestigious and luxurious offices in Santa Clara,
San Mateo, San Francisco, Alameda, Contra Costa, Napa,
Monterey and Santa Cruz counties. Alain Pinel is one of the
largest real estate firms nationally with
2006
sales volume of
$6.71 billion and an average sales price per transaction
side of $1.14 million. Alain Pinel Realtors is a founding
member of Luxury Portfolio, an operating unit of The
Leading Real Estate Companies of the World (formerly RELO).
APR has a joint venture partnership in the mortgage lending
institution, Private Mortgage Advisors, which is an
affiliate of Wells Fargo
Bank, N.A. For a complete listing of Alain Pinel Realtors
offices, services and agents, please visit our website at
apr.com or call 408-741-1111.