Wm. Raveis buys shoreline broker Heritage

BY Gregory Seay

PHOTO | Contributed
PHOTO | Contributed
WRRE founder, chairman and CEO William “Bill” Raveis
Shelton's William Raveis Real Estate (WRRE), one of Connecticut's and the nation's largest realty brokerages with offices blanketing the Hartford region, has acquired a small brokerage on New London County's shore.

William "Bill" Raveis, WRRE founder, chairman and CEO, announced Friday his company's acquisition of Heritage Properties, based in the Niantic section of East Lyme, from co-owners Ann Carpenter, Bill Heenan, Mary Poola and David Saindon.

WRRE also acquired Heritage's real estate training school, The Academy of Professional Education. Financial and other buyout terms were not revealed.

Heritage's approximately 60 real estate brokers and associates generate about $150 million in realty sales volume, WRRE said.

WRRE, which also has mortgage-banking and property-insurance operations, claims some 4,000 brokers and associates in 130 offices in nine states, who generated $10.2 billion in property sales in 2017.]

CORRECTION: A previous version omitted the name of Heritage Properties' fourth co-owner.