Tuesday, August 1, 2017

Platinum Properties Acquires Bluffs Real Estate and Investment Properties

Palm Beach firm operating since 1985 joins Platinum brand as Keyes continues aggressive growth.

Platinum Properties, A Keyes Family Company, has announced the acquisition of Bluffs Real Estate and Investment Properties under its Platinum Properties brand. The acquisition of the Jupiter-based firm underscores the continued growth Keyes has experienced this year.

Founded in 1985, Bluffs serves Palm Beach and Martin counties, with listings located between the Intracoastal Waterway and the waters of Jupiter and Juno Beach. Bluffs has 25 agents and generated a sales volume of $25 million in 2016. The firm’s office at 4050 South U.S. Highway 1 in Jupiter is remaining open after the Keyes acquisition.
“We are excited to welcome Bluffs into the Keyes family,” said Keyes CEO Mike Pappas. “We know that the Bluffs team is filled with dedicated professionals, and we are eager to begin working alongside their experienced sales associates. This significantly strengthens our Platinum Properties brand.”
With roots in the local community, Bluffs’ agents are experienced in residential single-family homes, townhomes, condos and golf communities, as well as bank-owned and new construction properties.
Gail Lamborn has been the owner of Bluffs Real Estate and Investment Properties since 2002.
The Bluffs acquisition was completed shortly after Keyes acquired the Florida offices of nationally recognized residential firm Shorewood Real Estate. Shorewood has 40 agents based in its Florida offices, which are located in Aventura and Palm Beach.
Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.
Keyes is a Founding Member and Shareholder of Leading Real Estate Companies of the World®, a global network of more than 550 premier real estate firms encompassing 4,000 offices and more than 128,000 Sales Associates in 55 countries.
In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands. Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.
Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, the companies have in excess of 1,100 Sales Associates and produce double the volume of their closest competitor.
“We plan to continue growing through strategic acquisitions over the rest of 2017 and beyond,” said Pappas. “Profit margins are tightening in the brokerage industry, so we’re seeing more and more consolidation of firms that do not have the size and scale to withstand the new reality. We are fortunate to have the infrastructure, technology and diversity of services to help our brokers thrive.”

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