Residential real estate firm FC Tucker Co. acquired Front Porch Real Estate as part of a deal that expanded Tucker with five offices and 190 agents.
The financial terms of the deal, announced on Monday, were not disclosed.
The Indianapolis Front Porch Hotel was founded in 2014 by Tucker’s owner and former agent Jim Perry. He has four offices in Indianapolis and one in Paoli, Indiana.
The firm is involved in approximately $ 350 million in annual real estate sales.
Front Porch offices will remain open during the transition period before being rebranded to become part of Tucker. Perry will join Tucker’s management team.
“When I decided to give up ownership, FC Tucker was the obvious choice,” Perry said in a written statement. “There is no other brokerage company that I would entrust my business to. Tucker really cares about their agents and employees as I do, and they have the resources, technology and support of a larger brokerage company to help agents serve their clients at the highest level. ”
Tucker said the addition of Front Porch would increase its market share by more than 3.5%, to more than 20%.
“I have known Jim Perry for many years as a knowledgeable and savvy professional who has built an impressive real estate business,” said Tucker CEO Jim Litten in writing. “When we first talked about joining forces, it quickly became apparent that this was a natural approach for both groups of agents and a step that complements our current growth strategy.”
Tucker is the largest and oldest real estate agency in the state with annual sales of over $ 5 billion, more than 40 offices and more than 1,500 channel partners throughout Indiana and select Kentucky markets.
Earlier this year, Tucker was acquired Howard Hanna Real Estate Services of Pittsburgh, the nation’s largest independent real estate brokerage, but continues to operate under its own brand.