Michael Weber

(Crain’s) — A unit of billionaire Warren Buffett’s investment firm Berkshire Hathaway Inc. has acquired Koenig & Strey GMAC Real Estate, one of the Chicago area’s largest residential real estate firms. Wilmette-based Koenig & Strey has been rumored to be for sale for some time, but the recession and declining housing market made finding a buyer more difficult. The firm, which will retain its name, had been owned by Brookfield Residential Property Services. The acquisition, announced Tuesday morning, gives the Berkshire affiliate, Minneapolis-based HomeServices of America Inc. 15,000 real estate professionals in 20 states. Terms were not disclosed. Founded in 1961, Koenig & Strey ... Read Full Story

Koenig & Strey GMAC Real Estate, a longtime Chicago-based real estate brokerage with 21 offices and 900 agents, has been sold to a unit of Warren Buffett's Berkshire Hathaway. Terms of the sale to HomeServices of America Inc. were not disclosed. Koenig & Strey, which had 2008 sales of $2.6 billion, will continue to operate under its own name. The company was founded in 1961. The acquisition is the 21st for HomeServices, which describes itself as the nation's second-largest full-sevice independent real estate brokerage. -- Mary Ellen Podmolik Read Full Story

MINNEAPOLIS, Sept. 1 (UPI) -- HomeServices of America Inc. said Tuesday it had acquired Chicago real estate brokerage firm Koenig & Strey on terms that were not released. HomeServices is an affiliate of Berkshire Hathaway, owned by billionaire investor Warren Buffett. The purchase, the 21st acquisition for HomeServices, said Doug Ayers, president and chief executive officer of Koenig & Strey. It also gives HomeServices a total of 15,000 real estate agents in 21 companies operating in 20 states, the company said in a statement. The Chicago firm has seen business fall 27 percent from 2007 to 2008, to a transaction level of $2.69 billion. ... Read Full Story

Wikizines are interactive magazines that anyone can create or edit - and this one is about Michael Weber. Here you can find fresh voices and respond in real time. Some members write articles about recent news and trends related to the wikizine's topic, others recount relevant personal stories or share their favorite pictures and video clips. Got an interesting idea or story to share with other members of this wikizine? Well, then put on your journalist's cap and add your own article! Read Full Story