Long and Foster buys Cabrera Realty

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 Long  and Foster buys Cabrera Realty

 WILDWOOD CREST—Cabrera Realty, the local real estate agency owned by Crest Commissioner Don Cabrera, was recently acquired by a large national real estate company.

In an announcement from Long and Foster Real Estate, the company acquired Cabrera Realty Nov. 19.

“Going forward, Cabrera Realty will operate under the Long and Foster brand at its existing office in Wildwood Crest,” the announcement reads.

Long and Foster, which describes itself as the largest independent residential real estate company in the United States, will also assume Cabrera Realty’s vacation rentals through its resort rentals division.

The company stated that both Don and Jeanine Cabrera have accepted positions with Long and Foster. Jeanine Cabrera will continue to lead the real estate office—now operating as Long and Foster’s Wildwoods location, and Don Cabrera will join Long and Foster’s Resort Rentals division.

The couple founded Cabrera Realty in 2006. It has a team of about 15 real estate agents, who work in Wildwood Crest, Wildwood, North Wildwood and the surrounding Cape May County areas.

“The only reason we sold to Long and Foster was because they have the same vision we have, particularly as being a mom and pop company,” Cabrera said of the acquisition Tuesday.

He declined to say how much Cabrera Realty sold for, because Long and Foster plans to further expand along the Jersey Shore, he said. Cabrera explained that Long and Foster reached out to him and his wife about a possible acquisition in August, and the deal was finalized last month.

“We were planning on being independent as long as we could,” Cabrera said, but he added that the current economy has pushed a trend for many small companies to sell to larger ones.

Long and Foster said that the acquisition of Cabrera Realty is in line with the company’s overall growth strategy and expands its presence along the southern New Jersey shore. With the addition of Cabrera Realty, Long and Foster now has 10 offices in New Jersey. The company also serves as the affiliate of Christie’s International Real Estate throughout the southern New Jersey market where Cabrera Realty is based.

“We’re pleased to welcome Cabrera Realty to Long and Foster and to expand our presence in the New Jersey market,” said Terry Spahr, regional manager of Long and Foster’s Delaware, Eastern Shore and New Jersey region, in a statement from the company.

The Cabreras also operate Cabrera Property Management, which will remain in business as a separate operation that is not part of Long and Foster, the company said.

“Cabrera Property Management will maintain its existing brand and its services for community associations in the area,” a statement from the company read. “Cabrera will continue to run Cabrera Property Management while also assuming his new role with Long and Foster’s Resort Rentals team.”

Long and Foster stated it did not acquire Cabrera Property Management because Cabrera’s homeowners association’s services are outside its company’s “standard property management and real estate offerings.”

Email Christie Rotondo at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or comment on this story at thewildwoodleader.com.


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