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DOUGLAS ELLIMAN ACQUIRES MIAMI BEACH-BASED MAJESTIC PROPERTIES

Date: Jun 09, 2014

DOUGLASELLIMAN ACQUIRES MIAMI BEACH-BASED MAJESTIC PROPERTIES

SouthFlorida Industry Pioneer, Jeff Morr, Joins Brokerage

MIAMI BEACH, FL– Douglas Ellliman today announced theacquisition of the Miami Beach-based real estate company, Majestic Properties.Recognized in the South Florida market as a top-producing group of agents leadby powerhouse broker, Jeff Morr, Majestic will be absorbed into the dailyoperations of Douglas Elliman’s Florida business.

As part of a larger Floridagrowth strategy aimed at attracting key industry talent, the acquisition will adda selection of agents and market experts from Majestic ’s roster to DouglasElliman’s national network of over 4,000 professionals across more than 70offices.

“The acquisition of MajesticProperties is a prime opportunity to expand our network of agents with some ofthe best in the market,” said Jay Phillip Parker, CEO of Douglas Elliman’sFlorida brokerage. “Under Jeff’s leadership, Majestic has been one of thearea’s premiere boutique operations for the past 20 years. We recognize how hisinsight and experience will help us reach our end goal to provide the strongestresources possible to buyers, sellers, and developers.”

Morr, who will serveas a broker in his new role at Douglas Elliman, will work directly with Parkerand the firm’s managing brokers, drawing on his 25 years of experience. ThroughMajestic’s three offices, agent network, and sales and marketing team, he iscredited with selling more than 3,000 condominiums valued at over $3 billion;his sales include an impressive list of properties such as 10 Museum Park,Marquis, Paramount Bay, and Midtown Miami 2 & 4, among many others. Morr isalso the chairman of the Master Broker’s Forum, an organization comprised ofthe top 250 real estate agents and brokers in Miami-Dade County.

“I started MajesticProperties in 1995. After two wonderful decades, I have decided to relinquishmy management responsibilities and to focus on my favorite part of thebusiness: brokering substantial residential and commercial transactions,” saidMorr. “Douglas Elliman was my only choice when contemplating a new home formyself and for my agents. I believe that their business model, a mix highenergy with high style, best parallels that of Majestic, I very much lookforward to working with Jay and the rest of the Douglas Elliman  team aswe continue to build on the tremendous level of growth they have achieved inSouth Florida.”

ABOUT DOUGLAS ELLIMANREAL ESTATE

Douglas Elliman RealEstate is New York’s largest residential brokerage, with over 70 offices in NewYork City,Long Island, the Hamptons, Westchester/Putnam, LosAngeles,and South Florida  and more than 4,000 real estate agentsand a network of national and international affiliates. They are strategic partners with London-based Knight Frank LLP for residential business in all of their New York markets. Douglas Ellimanranked in the top four of all real estate companies in the nation in 2007,2008, 2009, 2010, 2011, 2012, and 2013. The company also controls a portfolioof real estate services, including Manhattan’s largest residential propertymanager, Douglas Elliman Property Management, as well as DE Title and DECapital Mortgage. For more information on Douglas Elliman as well as expertcommentary on emerging trends in the real estate industry, visit the Douglas Elliman site at www.elliman.com

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