Alta Communications Acquires New Homes Realty, Inc. BOSTON, MA (April, 5, 2006) – Alta Communications, a Boston-based private equity firm formed in 1996 to focus exclusively on the media and telecommunications industries, has acquired New Homes Realty, Inc. (http://www.newhomes.com). New Homes Realty, Inc., based out of Clearwater, FL provides Buyer’s Agent services for new and resale homes in 36 States with its network of over 450 licensed real estate agents and brokers. Joining New Homes Realty, Inc. will be Valeri Marks as President and Chief Executive Officer and Dave Zynn as Chief Financial and Operating Officer. “The departing New Homes Realty management team has done a fantastic job positioning the Company to be a leader in the residential real estate buy-side brokerage business. We are very excited to provide the necessary resources to continue the Company’s growth and further enhance services to our clients,” states Tim Dibble, Managing General Partner at Alta Communications. New Homes Realty, Inc.’s. family of Web sites, including http://www.newhomes.com, receives a million visitors per month and generates thousands of home buyer leads for its network of real estate agents and brokers. NewHomes.com was founded by Richard J. Davis in 1992 as New New Homes Real Estate in Clearwater, Florida. From the beginning, NewHomes.com developed a specialized niche by appealing to homebuyers seeking a new home. In 1994, the company launched one of the first real estate Web sites on the Internet and has developed its own network of Buyer Agents, who are licensed real estate agents, throughout the fastest growing new home markets in the United States. “This acquisition is the next logical step in the evolution of New Homes Realty, Inc. Alta Communications’ ten years of investment experience and its successful track record in media and telecommunications companies truly enhances New Homes Realty, Inc.’s potential for outstanding growth.“ said Richard J. Davis. About Alta CommunicationsAlta Communications is a Boston-based private equity firm formed in 1996 to focus exclusively on the media and telecommunications industries. Currently Alta has approximately $1.5 billion of capital under management in five limited partnerships. Limited partners consist primarily of large pension funds and university endowments. The investment team has more than 100 years of collective communications experience. About New Homes Realty, Inc Founded in 1994, Clearwater-based New Homes Realty, Inc. is a full-service online real estate company that uniquely couples lead generation/online media with a national sales network. The New Homes Realty family of web sites allows buyers to view new homes, resale homes, and floor plans, read community descriptions and school reports, and find knowledgeable Agents in their area. The New Homes Realty sales network includes over 450 licensed Real Estate Agents and Brokers in 36 states. New Homes Realty delivers exceptional home buying experiences by focusing exclusively on the buyer to help them find the perfect home. Contact - Frank Pipolo |
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