Intracoastal Realty Acquires Bald Head Island Limited, LLC Sales and Rentals

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Bald Head Island, NC (February 18, 2020) – Bald Head Island Limited, LLC and Intracoastal Realty Corporation are pleased to announce the sale of Bald Head Island Limited, LLC’s  residential real estate brokerage sales and vacation rental-property management businesses to Intracoastal Realty Corporation, and the opening of Intracoastal Realty offices on Bald Head Island.

In addition to Intracoastal Realty’s purchase of Bald Head Island Limited, LLC’s residential real estate brokerage sales and vacation rental-property management operations, the transaction will comprise the purchase or lease of several properties on the island, including the real estate brokerage sales office at 4 Marina Wynd near the island’s ferry landing; the vacation rental-property management laundry/housekeeping facility located on Edward Teach Wynd Extension; and part of the Island Chandler building at 6 Marina Wynd, which currently houses the vacation rental-property management office. The sale is expected to close on or around February 24, 2020.

Intracoastal Realty’s residential real estate brokerage sales office on the island will be managed by Ken Mowbray, previously broker-in-charge for Bald Head Island Limited Real Estate Sales. Rob Wright and Wendy Irick, broker-in-charge and general manager for Bald Head Island Limited Property Management, respectively, will work for Intracoastal Realty on the island in their same roles. Bald Head Island Limited, LLC will continue to own and conduct developer real estate sales and operations on the island, including the Southern Living Inspired Community at Cape Fear Station.

“Intracoastal Realty’s expanded presence on Bald Head Island creates a sustainable third-party residential real estate brokerage sales and vacation rental-property management platform positioned for growth,” said Chad Paul, CEO for Bald Head Island Limited, LLC. “The strength of the Intracoastal Realty brand, their global reach, and the company’s proven success in the region’s residential real estate brokerage and vacation rental-property management markets is an unbeatable combination for serving the island’s current and future needs,” Paul said.

Led by Founder/CEO Jim Wallace and his son Trey Wallace, president, Intracoastal Realty operates 14 other real estate brokerage offices in Brunswick, New Hanover and Pender Counties. The company’s real estate sales volume for 2019 was approximately $1.2 billion.

Trey Wallace (left), Jim Wallace, and Chad Paul

Trey Wallace stated Intracoastal Realty is poised to come out of the gate strong, but deliberate. “In the coming months, we’ll be working with Bald Head Island Limited’s team to seamlessly transition the residential real estate brokerage and vacation rental-property management businesses onto our operations and marketing platforms. The process will be gradual as we look to marry the best aspects of both companies and leverage Bald Head Island Limited, LLC’s tremendous employee talent pool,” said Wallace.

“This sale furthers Bald Head Island Limited’s goal of transitioning legacy assets to a diverse and competent group of third-party owners, operators and stakeholders,” said Paul. “With Bald Head Island in a mature phase of development, continued diversification of business ownership supports the island’s long-term health and viability.”

“This is a relationship business, and it’s not only about relationships with your clients, but also relationships with your agents, employees and the community as a whole,” Wallace said. “Our company is committed to serving the entire Bald Head Island community for the long term. Ultimately, our objective is to become the market leader in residential real estate brokerage sales and vacation rental-property management on the island, one relationship at a time.”

“Bald Head Island property owners couldn’t ask for a better residential real estate brokerage steward than Intracoastal Realty,” said Paul. “They have an outstanding reputation for integrity and real estate sales success and are committed to serving the island’s needs for decades to come.”

About Bald Head Island

Bald Head Island is a ferry-accessed community located two miles off the coast of Southport, NC. Transportation on the island is restricted to golf carts, bicycles and pedestrian traffic. Of the island’s 12,000 acres, 10,000 acres of beaches, salt marsh and maritime forest are protected and will remain undeveloped. To learn more about the island, visit baldheadisland.com.

About Intracoastal Realty

Intracoastal Realty is a full-service real estate brokerage specializing in residential real estate, property management (long-term and vacation), and project development. Founded in 1976, the company now has more than 400 agents and has grown to become coastal North Carolina’s largest independent real estate firm. Market-leading technology, strategic marketing, and a teamwork approach are Intracoastal trademarks. As an independent brokerage, Intracoastal invests its revenue into technology, marketing, agent training, and community organizations throughout southeastern North Carolina. Through its affiliation with Leading Real Estate Companies of the World®, Luxury Portfolio International® and Mayfair International Realty, Intracoastal delivers turn-key service to clients locally and globally. For more information, visit IntracoastalRealty.com.

Lanier Property Group Merges with Intracoastal Realty

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Lanier Property Group, a top-selling independent real estate firm based in Wilmington, NC announced Tuesday that it has merged with Intracoastal Realty – the largest independent real estate brokerage in Southeastern North Carolina. 

Stephanie Lanier (co-owner of Lanier Property Group) and the firm’s agents will continue to operate in their team model under the Intracoastal Realty brand.  The merger of the two family owned and operated independent brokerages allows Lanier Property Group’s agents access to valuable marketing, technology, and training tools that positions them for great success. 

Stephanie Lanier

“Intracoastal Realty is the top real estate brand in the area.  As a local independent firm, we never considered joining forces with anyone else.  With very similar company cultures, existing friendships among our two firm’s agents, as well as a deep commitment to giving back to our community, the merger is the perfect fit,” said Stephanie Lanier.

Intracoastal’s deep roots and global reach position the Lanier Property Group’s agents and clients with the greatest opportunities in a strong market.  “With the power of Intracoastal behind us, we will bring a new level of service to our luxury buyers and world-class exposure to our sellers. We are truly honored to join the Intracoastal family, to be a part of their incredible legacy in our region, and to be a part of their continued growth as the dominant force in our real estate market,” Lanier said.

Trey Wallace, President of Intracoastal Realty said, “We are so excited to welcome Stephanie and the agents at Lanier Property Group into our family.  I have known Stephanie for many years and she and her team are the types of real estate professionals that raise the bar in our industry through an extraordinary commitment to white glove service for their clients.”  

As a result of the merger, Intracoastal Realty is positioned to be an even stronger advocate for buyers and sellers in midtown, which has become increasingly sought after by homeowners due to the explosive growth of restaurants, services, and activities in the area.  “Stephanie and her team have built a great company and a great brand.  I am eager to marry the best aspects of both firms to better serve our clients and our community,” Wallace said.

About Intracoastal Realty: Intracoastal Realty, founded in Wilmington, NC in 1976, has grown to become coastal North Carolina’s largest independent real estate firm.  Market-leading technology, strategic marketing, and a teamwork approach are Intracoastal trademarks. As an independent brokerage, Intracoastal invests its revenue into technology, marketing, agent training, and community organizations throughout southeastern North Carolina. Through its affiliation with Leading Real Estate Companies of the World, Intracoastal delivers turn-key service to clients locally and globally.

About Lanier Property Group: Lanier Property Group was founded in 2012 as an independent, family owned and operated boutique real estate firm in Wilmington, NC. The firm specifically focuses on the rapidly growing midtown area of Wilmington and is well known for putting midtown on the map in 2015. With a small team of highly productive agents they have built a loyal client base with 250 five-star reviews, an enthusiastic social media following and award-winning marketing strategies.

Brexit Update: Bouncing Back

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Nick Churton of London-based Mayfair International Realty (an affiliate of Intracoastal Realty) reports on the awakening of the real estate market in the UK capital.

There is excellent news for U.S.-dollar buyers in London. They will now find the lowest real estate prices in the UK capital for many years. Average prices in central London have fallen by about 20 percent since the last peak in 2014. With currency exchange factored in, dollar buyers today gain by about 38 percent compared to five years ago.

All this comes at a time when there is a bounce in the step of property buyers in London. Since the decisive general election victory in December by Boris Johnson and his Conservative party, the uncertainty that had hung like a large gloomy cloud around the Brexit question has been lifted. The real estate community went from despair to delight in the course of a dramatic election night. Call it a Boris or Brexit bounce, but there was an immediate re-engagement in the real estate sector. That early interest continues unabated. Now pundits are even boldly forecasting a price rise of up to 10 percent during 2020.

Highlighting this newfound excitement is the sale of a Knightsbridge mansion to a Chinese buyer for a reputed $365 million – making it the most expensive property sale in the UK. The purchase of this 60,000 sq. ft. home emphasises the attraction central London has for overseas buyers. This global destination for the wealthy of the wealthiest, attracted by commerce, fashion, culture, law, medicine, education, and finance, is most certainly back in business.

London and the rest of the UK look forward to a spring property market with a big bounce in its step.

Nick Churton and Annette Reeve, Mayfair International Realty representatives, run Intracoastal Realty’s London Office and are frequent visitors to the Greater Wilmington area.