The acquisition of the Massachusetts-based brokerage firm marks LaMacchia Realty’s 10th acquisition in the state in the past 16 months, adding offices in Newburyport and Amesbury.
Whether you’re refining your business model, mastering new technology, or finding a strategy to take advantage of the next market boom, Inman Connect New York prepares you to take a bold step. The next chapter is about to begin. Please join us. Join us and thousands of other real estate leaders from January 22-24, 2025.
New England-based LaMacchia Realty continues its path to expansion with the acquisition of Massachusetts-based Stone Ridge Properties, the brokerage announced Tuesday.
LaMacchia Realty has been expanding its footprint in Massachusetts for more than a year, and the addition of Stone Ridge Properties marks its 10th acquisition in the state, the company said.
Participate in the November INMAN Intel Index Survey
“We are very excited to finally be able to significantly expand our presence on the North Shore and coastal New England,” Anthony LaMacchia, broker and owner of LaMacchia Realty, said in a statement.
“This merger will also significantly increase our luxury sales. The owners of Stone Ridge Properties have created a great company that happens to be a great cultural fit for us. There is no doubt that we will all come out stronger and that is very exciting. We look forward to great success together.”
Stone Ridge Properties has been in business for over 30 years, serving the North Shore of Massachusetts, southern Maine, and southern New Hampshire. The company has offices in Newburyport and Amesbury, which will be converted to LaMacchia Realty offices.
Stone Ridge Properties and Lamacchia Realty Leadership Left to Right: Jackie Louh, Tim Robinson, Nick Motsis, Celine Muldowney, Sandy Berkenbush, Cathy Toomey, Erica Puorro, Marc Ouellet, Massoud Attalah, Anthony Lamacchia | Provided by Lamacchia Realty
With this acquisition, Stone Ridge Properties owners Cathy Toomey, Celine Muldowney, Erica Puorro, Marc Ouellet, Nick Motsis, and Sandy Berkenbush, as well as 33 of Stone Ridge’s agents, will join Lamacchia Realty. Become. As Mr. Lamacchia pointed out, Stone Ridge Properties’ agency, which has a strong presence in the luxury market, will provide a boost to intermediaries in the luxury market sector.
Mr. LaMacchia has been open about the company’s expansion drive, telling Mr. Inman in July that intermediaries are “100 percent aggressive.” At the time, Lamacchia Realty had just hired former Anywhere Real Estate M&A expert Masoud Atallah to guide the company’s growth efforts.
A press statement from the brokerage said Atala brokered the transaction with Stoneridge’s owners with assistance from Tim Robinson, business development, mergers and acquisitions manager. Financial terms of the deal were not disclosed.
The owner of Stone Ridge Properties cited Lamacchia Realty’s culture, tools and agent support as motivations for joining.
“It was important to me to partner with a company that shares my core beliefs of integrity and service to our customers, rather than a franchise,” said Kathy Toomey, owner of Stone Ridge Properties. . “L’Amacchia fits the bill and provides great support for our agents.”
Owner Erica Puolo added: “I couldn’t be more excited to partner with LaMacchia Realty. I have long admired their commitment to training, cutting-edge marketing, and technology, and Anthony LaMacchia’s leadership is truly inspiring. This collaboration presents tremendous opportunities for my clients, agents, and myself, and we are all poised for outstanding success.”
Email Lillian Dickerson
