Brokerage buys pair of vacation rental firms — including one that leases houses for $100K a month
Companies are being folded into JRW Vacation Rentals LLC, A John R. Wood Company.
Business Observer Staff
| 9:23 a.m. August 3, 2022
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John R. Wood Properties continues to grow its market presence in Southwest Florida.
The latest news announcement is the brokerage has reached merger agreements with two vacation rental companies, Fort Myers-based Resort Harbour Properties and Naples-based The Holiday Life. Terms of the deals weren’t disclosed. The deals follow a move in April, when John R. Wood Properties acquired a Pine Island-based vacation rental company.
“Continued expansion of our presence in the high-end vacation rental market is a natural strategic evolution for John R. Wood Properties in our local area,” Corey McCloskey, John R. Wood Properties Vice President of Operations, says in a statement. “These companies share our core values of legendary service and a respected code of ethics. Incorporating them into the John R. Wood Properties family will help agents realize a larger selection of listings for our clients while helping preserve our number-one market share in the Lee and Collier County market, and it’s a goal we have pursued for several years."
The three new entities will now be recognized as divisions of JRW Vacation Rentals LLC, A John R. Wood Company.
“Affiliating with a larger real estate company such as John R. Wood Properties will enable each of these rental businesses to have access to more potential landlords and renters from the 700 John R. Wood agent,” McCloskey says.
Resort Harbour Properties specializes in the condominiums at Sanibel Harbour Resort and nearby Punta Rassa. Owner Angelo Celmo, who formed the company in 2007, has joined John R. Wood Properties as a broker associate.
The Holiday Life, meanwhile, owned by Casey Potter and Lisa Potter, has quickly grown among Collier County’s thriving luxury vacation rental market, the release states. It’s accumulated some 100 high-end rental listings, with some Naples luxury homes going for upward of $100,000 per month in season. The Potters formed the company in 2013.
Pine Island Realty has been in business since 1980, and formed the rental operation about two years ago. It is now called Pine Island Vacation Rentals
In 2021, John R. Wood Properties surpassed all Southwest Florida residential real estate brokerages in sales volume, listings sold and total closed transaction sides, based on Naples Area Board of Realtors data. Led by President and CEO Phil Wood, the firm reported record-setting written sales volume of $5.83 billion in 2021. Founded in 1958, it now has almost 700 real estate agents spread through 23 offices.