Expecting Aggressive Growth in Western Region Residential Sector
San Francisco, Calif. October 19, 2015 Pacific Union International, Inc. today announced the acquisition of The Mark Company, which is scheduled to close on November 2. The Mark Company is the premier urban residential marketing and sales firm, and has represented more than 10,000 residences and generated more than $5 billion in sales for some of the most notable developments in the Western United States. The outstanding performance of The Mark Company team and its leadership in marketing and sales for new residential developments in the West supports Pacific Union’s recent move into this burgeoning real estate sector.
The Mark Company will continue to operate with its brand name under the banner of Pacific Union International, Inc. The Mark Company President, Alan Mark, with Executive Vice President and Managing Principal, Krysen Heathwood, will drive this innovative team forward. They join the strong leaders of Pacific Union Marketing + Sales, Hans Treuenfels and Doug Shaw. It is a reunion of strengths, as Mark, Treuenfels and Shaw share history at Pacific Union earlier in their dynamic careers. Treuenfels and Shaw assume the title of Principal in the new organization. This combined team offers a full range of core consulting services, real estate analytics and design for markets throughout the Western United States.
“The accelerated growth of new condominium housing in the San Francisco, Seattle and Los Angeles markets make this acquisition essential to Pacific Union’s vision for continued success,” says Pacific Union CEO Mark A. McLaughlin. “We believe the combined strength of Pacific Union with The Mark Company, the most outstanding brand in the marketing and sales of new construction homes, will create a new force in residential and mixed-use development marketing and sales.”
“This will be a powerful, game-changing partnership,” says Alan Mark. “We share a strong alignment of values and culture within our respective organizations. By leveraging each other’s strengths, our services and global reach to buyers will be enhanced for our developers, while our internal team will benefit from Pacific Union International’s depth of resources.”
This joining of forces will meet the strong demand and desire of buyers to live in urban cores. According to recent municipal reports, projected growth for new housing in San Francisco includes 30,000 new housing units to be built over the next ten years. Industry watchdogs project a need for 188,000 new housing units in the Bay Area by 2022. In a market constrained by raw land, these new units primarily will be urban high-rise condominiums. Developers of this emerging new housing stock demand a set of expertise above and beyond a traditional brokerage. Strong growth opportunities exist in other Western United States markets including Los Angeles, San Diego, Denver, Portland and Seattle.
In the summer of 2015, Pacific Union was named in the Inc. 5000 list, which ranks the 5,000 fastest-growing private companies in the U.S. Since its first appearance on the list in 2013, the brokerage has moved up the list more than 1,000 places – from 3,433 in 2013 to 2,403 in 2015.
In February, Pacific Union was ranked as the ninth-largest brokerage in the U.S. in both RISMedia’s 2014 Power Broker Report and the REAL Trends 500 list with 2014 sales volume of $6.75 billion. The luxury brokerage leads the Bay Area in residential real estate transactions in the closely followed sales-over-$3-million category. Over the past three years, Pacific Union has grown revenue by 158 percent.
About Pacific Union
Pacific Union is the San Francisco Bay Area’s premier luxury real estate brand operating in eight Northern California regions including Silicon Valley and Tahoe. The brokerage offers a full range of personal and commercial real estate services, including buying, selling, and relocation, and enjoys a relationship with Christie’s International Real Estate as an exclusive affiliate in the San Francisco, Marin, Sonoma, Napa, Alameda and Contra Costa counties in the State of California. Locally owned, Pacific Union operates with an entrepreneurial mindset and unwavering commitment to deliver exceptional service and expertise. For more information, please visit www.pacificunion.com.
About The Mark Company
The Mark Company is one of the nation’s premier urban residential marketing and sales firms. Founded by Alan P. Mark, The Mark Company provides a full range of core consulting services including analytics, design, marketing and sales for urban high-rises and suburban attached properties throughout the Western United States. The firm is a trusted partner to leading residential developers and financial institutions such as Tishman Speyer, CIM Group and Bosa Development. Since 1997, The Mark Company has represented more than 10,000 residences and generated over $5 billion in sales for some of the nation’s most notable and successful developments including The Infinity in San Francisco, Spire in Denver, Evo in Los Angeles, and The Martin in Las Vegas. Current projects include 181 Fremont Residences in San Francisco, Turnberry Towers in Las Vegas and SL70 in Los Angeles. For more information, please visit www.themarkcompany.com.