Pittsburgh-based Howard Hanna Real Estate Services, which most recently expanded into York County, has acquired a large family-owned company with 17 offices in Virginia and North Carolina.
Howard Hanna, the top real estate company in Pennsylvania and Ohio, announced the deal today with William E. Wood and Associates, Realtors, based in Virginia Beach. The acquisition includes Wood subsidiaries, Heritage Title and Towne Mortgage.
William E. Wood and Associates is the top real estate company in southeastern Virginia and northeastern North Carolina; it has nearly 700 sales associates and employees.
Fifteen of its offices are in the Hampton Roads area of Virginia, which is ranked as the ninth largest metropolitan area in the southeastern part of the country.
The other two offices are in Elizabeth City and Currituck, N.C.
"William E. Wood is a great established company, known for its quality and integrity," said CEO Howard "Hoddy" Hanna III. "They are a market leader and align well with our growth strategy."
The company last year announced a $250 million expansion plan. That plan included a desire to move into Maryland and other major markets along the East Coast. Philadelphia, Baltimore and Washington, D.C., were described as targets.
In October, the family-owned real estate giant acquired Morgan-Collins Inc. in Spring Garden Township.
Howard Hanna now has 167 offices. It had a closed-sale volume, including William E. Wood, of more than $10 billion last year. Howard Hanna, which also operates in Michigan, New York and West Virginia, is the fourth-largest real estate company in the country.