Land Advisors Makes CA Dreaming A Reality

"This was an opportunity to instantly have a presence in all of California," Land Advisors Organization CEO Greg Vogel tells GlobeSt.com. In addition to Irvine, the merger puts Land Advisors in Fresno, Roseville, San Diego and Valencia.

Vogel says it had always been his plan to set up shop in California and was seeking out likely brokerage firms with which to join forces. Park Place Partners consistently came up as one of the top three land brokerages in the marketplace, and provided a good fit, he explains.

During the next three to six months, Park Place will move through an interim branding process, in which it will be called Park Place Land Advisors. It will then operate under the Land Advisors Organization name. "They've been in business for 15 years, have a great brand and are a recognized leader," Vogel remarks. "We felt a transitional type of step would be important."

In addition to providing a California presence for the Phoenix-based Land Advisors Organization, the merger helps the company "complete the demographic smile," Vogel says, pointing to the fact that on a map of the United States, the Land Advisors Organization locations form a smile. The company currently has operations in Arizona, Texas and Florida, with plans to open shop in Georgia, Nevada and the Carolinas in the coming months, likely through mergers similar to that set up with Park Place.

These areas are being targeted, Vogel says, because there is a promise of future growth. "All opportunistic investors are mentioning three or four states every time they come through the doors," Vogel explains. "California, Arizona and Florida are areas where they believe there will be a bounce, though it's downward there for the moment. Our goal is to be of service to the variety of banks, financial institutions and builders who need our services."