Northwood Realty

Confluence Advisors, LLC (“Confluence”) acted as the exclusive Investment Banker to Everest Holding Company, parent company of Northwood Realty Services (“Northwood”) in the placement of senior debt financing which enabled Northwood to acquire Berkshire Hathaway HomeServices the Preferred Realty, and all its related entities.   

Northwood and the Preferred Realty will combine to create a new family of companies that will operate as Berkshire Hathaway HomeServices The Preferred Realty.  The Preferred Realty and its family of companies will be the number one residential real estate broker in the region in volume, sales and active listings, based on the West-Penn Multi-List. It will have more than 1,800 agents, employ more than 200 and have more than 50 offices across 22 counties in Western Pennsylvania and Eastern Ohio. Additionally, the firms generated $85 million in gross commission income, placing the new company in the top ten among all Berkshire HomeServices brokerages. 

Confluence solicited interest from a targeted list of both traditional banks and senior cash flow lenders. After receiving multiple term sheets, Northwood selected Santander Bank as its new lender. Confluence’s experience in identifying lenders and running an expedited financing process resulted in a solution for the Company that provided acquisition financing and liquidity for ongoing operations. 

“Confluence Advisors was great to work with and was remarkable in raising favorable financing terms for this acquisition. Their expertise opened the door for financing opportunities that we would not have been able to find on our own.” said Tom Hosack, Northwood's President and CEO.