Northwest Florida-based Premier Property Group has doubled in size after acquiring a significant interest in Bay County, Florida-based Beachy Beach Real Estate, according to an announcement on Thursday.
The financial terms of the deal are not being disclosed.
Premier Property Group is an affiliate of Luxury Portfolio International and is Northwest Florida’s largest independent residential real estate brokerage. The firm was founded in 2008 by Keith Flippo and Bob Parks, and it currently has more than 100 agents and staff who work with buyers and sellers along the Emerald Coast — including South Walton, 30A, Destin, Niceville, and Panama City Beach.
“This acquisition solidifies our position as the region’s leading independent real estate brokerage firm and is a testament to our belief in the future strength of the Bay County market,” Garrett McNeil, the CEO of The Premier Property Group, said in a statement. “In a time when few acquisitions are occurring, we have singled-out and capitalized on an important opportunity to expand our presence in Panama City and Panama City Beach, increasing our market share and successfully setting up our companies for the next several decades of growth.”
Beachy Beach Real Estate was founded in 2010 by broker-owner Karen Smith. The firm is headquartered in Panama City Beach and it has over 100 agents and staff. It serves both residential and commercial clients throughout Panama City Beach, Panama City, 30A, Lynn Haven, and surrounding communities.
“Today’s acquisition marks the union of two legacy brands — each with deep local roots — and underscores our shared commitment to strategically expanding our influence throughout the region,” Flippo said in a statement. “We have long admired Karen and her team at Beachy Beach Real Estate. Both companies share the same values and are equally focused on the future. Together, we will be stronger in our local markets, equipped to serve our new and existing clients with an even greater commitment to excellence.”
Under the terms of the deal, Beachy Beach Real Estate will continue to operate under its current name and branding. In addition, Smith, who has more than 20 years of experience in the real estate industry, will continue to lead the firm and oversee its day-to-day operations.
“We are proud to be partnered with The Premier Property Group,” Smith said in a statement. “Joining forces provides our company with a unique opportunity for growth and gives us more access to market-leading tools, strategies, and the sharing of best practices. In the current real estate marketplace, this is a logical next step for our brokerage. It allows us to unite with an industry leader and be backed by its tremendous depth and resources, as well as its extensive knowledge of the market.”