Royal LePage Announces Purchase of Coast Realty Group
Royal LePage announced Tuesday July 21 that they have purchased rival company Coast Realty Group in its entirety. The purchase affects 500 REALTORS® on Vancouver Island.
Due to legalities with the Companies Act, the purchase of the Powell River office will not be finalized for 60 days. However, effective immediately, the assets of all Coast Realty offices transfer to their Royal LePage counterparts in the communities where they operate, including Courtenay, Campbell River, Port Alberni, Parksville, Ucluelet, and more.
Coast Realty Group had been in operation since 1984 and at the time of purchase was the largest privately owned real estate company in the province with nearly 160 REALTORS® scattered all across Vancouver Island from Ladysmith in the south to Campbell River in the north, including its office in Powell River on the Mainland.
The cost of the purchase, possible office closures, or staff changes have not been provided.