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Coldwell Banker Real Estate operation in Canada acquired by Edmonton-based business partnership

FOR IMMEDIATE RELEASE

Coldwell Banker Real Estate operation in Canada acquired by Edmonton-based
business partnership

Coldwell Banker brokerage owner Steve Houle and business partner Karim Kennedy take ownership of Coldwell Banker Canadian operations with franchised offices from coast to coast

BURLINGTON, ON, CANADA (October 20, 2021) – Award-winning Coldwell Banker brokerage owner Steve Houle and business partner Karim Kennedy have acquired the master franchise rights for the iconic Coldwell Banker® global brand in Canada. The two Edmonton-based entrepreneurs take ownership of Coldwell Banker Canada Operations ULC (doing business as Coldwell Banker Canada) effective immediately. They will apply a unique blend of knowledge and experience as they continue to provide support to a coast-to-coast network of independent affiliates and their sales representatives and seek to grow the brand’s presence in Canada.

Steve Houle has been a part of the Coldwell Banker network for over four years, as owner of the independent franchise Coldwell Banker Island Properties, operating 18 offices throughout Hawaii. Under his leadership, the company has grown to nearly 500 agents and has qualified as a Chairman’s Circle brokerage, a distinction reserved for the top 9% of companies in the Coldwell Banker global system. Under his leadership, Houle and his team grew Coldwell Banker Island Properties’ transaction volume by almost 500%. Born and raised in Edmonton, Alberta, Steve has a proven track record for establishing and building successful businesses.

Business partner Karim Kennedy is also born and raised in Edmonton and continues to reside in the city. He has an extensive 25-year background in the financial sector working with major institutions such as The Business Development Bank of Canada and Scotiabank. An avid supporter of entrepreneurship, he has a strong track record of assisting companies with execution of their growth plans particularly through mergers and acquisitions, and he will take on the role of CEO of Coldwell Banker Canada.

Andy Puthon, the current president of the Coldwell Banker Canadian operations and his Canadian team remain with the company based in the Burlington national office.

“This ownership change marks a new day for the Coldwell Banker brand in the Canadian marketplace,” said Liz Gehringer, chief operating officer of Coldwell Banker Real Estate. “This 100% Canadian ownership structure will provide the organization both flexibility and autonomy, while continuing to be a part of a global network. Steve and Karim have demonstrated the leadership and entrepreneurial expertise to grow the renowned Coldwell Banker brand in Canada. The Canadian team is looking forward to working with Steve and Karim as they explore new opportunities.”

“As the owner of a successful Coldwell Banker franchise operation, I understand the value that
the brand offers its affiliates,” said Houle. “As a proud Canadian, I also know the tremendous
potential that is present in the Canadian real estate market, so I am very excited by the
opportunities that the future holds.”

“The affiliates now have the access to leverage this team’s deep insight and expertise to exceed
their business goals. Combined with our collective strength across a viable Canadian real estate
landscape, many advantageous opportunities abound to help affiliates take their businesses to
greater heights,” continues Coldwell Banker Canada CEO Karim Kennedy. “We additionally value their input and will be engaging with brokers across the country as we build our vision for the future for Coldwell Banker in Canada, and its affiliates from coast to coast and provide a compelling destination for prospective franchisees.”

The Coldwell Banker brand first came to Canada with its first international franchises in 1989 and achieved dramatic growth through a joint venture with Canada Trust in 1992. The parent company of Madison New Jersey based Coldwell Banker Real Estate LLC, acquired ownership of Coldwell Banker Canada in May 2007. The Coldwell Banker Canada network has independently owned residential and commercial franchised offices across Canada from coast to coast and also in the Yukon and Northwest Territories. Globally, Coldwell Banker has a network of over 96,000 sales professionals operating in 2,900 offices in 40 countries and territories worldwide.

About the Coldwell Banker® Organization
Powered by its network of over 96,000 affiliated sales professionals in approximately 2,900 offices across 40 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906.
In Canada, Coldwell Banker has a national network of independently owned residential and commercial offices that spans from coast to coast. Each office is independently owned and operated. For further information on Coldwell Banker Affiliates of Canada or to search for individual offices, sales representatives, or property listings across Canada, visit www.coldwellbanker.ca
Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services.
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