Silverman To Acquire Coldwell Banker Corp.

Deal-maker Henry R. Silverman said Thursday that he will buy Coldwell Banker Corp. for $740 million, adding 2,525 upscale real estate offices to holdings that already include the Century 21 and ERA brokerages.

Silverman’s HFS Inc. also franchises 5,200 hotels in eight chains including Days Inn, Howard Johnson and Ramada. HFS bought Century 21 for $200 million last year and ERA for $37 million this year. With Coldwell Banker, its companies will handle 23 percent of U.S. real estate transactions.

HFS’ expertise in operating franchises will help growth continue at Coldwell Banker, which had $700 million in revenues last year and has had five straight years of record earnings, Coldwell Banker CEO Chandler B. Barton said.