Prudential Connecticut Realty, based in Rocky Hill, is now the largest real estate agency in Connecticut following its merger with Pequot Properties, a Waterford-based firm.
Rocky Hill-based Prudential Connecticut Realty has secured the position as the largest real estate agency in Connecticut and has established its presence in Rhode Island after merging with Waterford-based Pequot Properties.
The merger leaves Prudential with 47 offices in the two states. Pequot had 160 sales associates and offices in Danielson, Mystic, Norwich, Stonington Borough and Watch Hill, R.I. The company had more than $390 million in sales volume last year in residential, investment, commercial and industrial properties. Prudential Connecticut has more than 1,500 sales executives in Connecticut and closed more than 12,300 transactions worth $4.8 billion in sales in 2004.
Because the two companies shared similar cultures, there will be little change, according to Candace Adams, president of Prudential Connecticut Realty.
“We felt as though – after building a relationship – the people at [Pequot] shared our visions and values,” she said.
Pequot Properties’ Connecticut offices will change their names to Prudential Connecticut, while the Rhode Island office will be Prudential Pequot Properties.
“There will be minimal change,” Adams said.
‘A Terrific Emulation’
Prudential Connecticut Chairman and Chief Executive Officer Peter Helie echoed Adams’ comments.
“The partnership between Prudential Connecticut Realty and Pequot Properties is a perfect fit,” he said in a prepared statement. “Our companies share the same values and commitment to customer service and our combined strengths have created the biggest and best real estate firm in Connecticut. With this merger, we expand our presence along the Connecticut Shoreline into western Rhode Island, as well as into eastern Connecticut, two areas where [Pequot Properties founder] Peter Guille and his team have been so successful over the past three decades.”
Prudential Connecticut’s vision is to be the best service provider, a goal that was shared by Pequot Properties, Adams noted.
“They are a terrific emulation,” she said. “This brings us into Rhode Island Â… I think they’re an excellent organization.”
As a result of the merger, Prudential Connecticut stands alone as the largest real estate firm in Connecticut. It shared the spot before the deal, according to Adams.
The merger also will benefit Pequot Properties, according to its founder.
“I am certain that by joining with Prudential Connecticut Realty, together we can build on the success we have enjoyed for so many years and provide an even greater level of service for our customers,” said Guille, who started Pequot Properties in 1974, in a prepared statement. “Our team will have access to greater resources, a national referral system and a statewide network to allow us to serve more buyers and sellers.”
