LAKELAND, Fla. — In its quest to build a real estate presence in central Florida, MIDFLORIDA Federal Credit Union has bought A.H. Realty.
The deal was finalized on Dec. 3. A.H. Realty will be renamed MIDFLORIDA Real Estate Sales LLC and Andy Hernandez, its principal, has been named the president of the new CUSO, which will be a wholly owned subsidiary of the $1.3 billion credit union.
"While recently there have been trying times for the real estate industry, MIDFLORIDA intends to use its financial strength, its branding power and the expertise of the newly acquired agency to build a significant real estate agency to serve central Florida," said Kevin Jones, president/CEO. "Our goal is to increase agency sales to over 500 units in the first year of operation and to continue to build sales until [the subsidiary] is one of the top providers in the market."
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