| ERA Real Estate
Kevin Meyer (973) 496-7215 or kevin.meyer@ERA.com |
Contact: Orlando Gonzalez-Arias
ERA Spain 34-629-207-735 |
Parsippany, NJ (February 25, 1999) – ERA Franchise Systems LLC, announced today that its international affiliate, Cendant Global Services, B.V., has granted the ERA master franchising rights for Spain to Fajardo Limited. Fajardo's Managing Director Orlando Gonzales-Arias already holds the ERA master franchising rights for Portugal. Present plans call for ERA Spain and ERA Portugal to be operated independently.
Gonzalez-Arias initially entered the real estate brokerage franchising market in 1987 when he co-founded Look & Find, S.A. of Spain, which later bought the ERA master franchising rights for Spain. He later left ERA Look & Find, S.A. in 1997, acquiring the ERA master franchising rights for Portugal. His purchase of the master franchising rights for Spain follows the January 1999 termination of the master franchise agreement between Cendant Global Services and Look & Find, S.A.
"ERA operations have been going very well in Portugal," Gonzalez-Arias said after recently signing up the sixth ERA franchise in Portugal. "There were no real estate franchise organizations in Portugal when we entered the market. We have brought a new level of training and licensing standards to real estate professionals that is proving very effective."
"We look forward to expanding our franchising successes to Spain. The ERA System already has an outstanding reputation in Europe which will make for a strong foundation for continued growth on the Iberian Peninsula," Gonzalez-Arias continued. "We bring not only a knowledge of the ERA System to Spain, but credibility and an exciting vision as well."
ERA European Director Bill Heavener said that along with France and Italy, Spain and Portugal are magnets for northern European real estate investment. "We are pleased to welcome Fajardo Limited and Orlando Gonzalez-Arias as the ERA Master Franchisor in Spain. Orlando has achieved a high level of success in Portugal and will be a tremendous asset as we grow and strengthen ERA throughout Europe."
ERA Franchise Systems LLC, a subsidiary of CENDANT Corporation (NYSE:CD), is a leader in the residential real estate industry with over 25 years of experience in developing consumer-oriented products and services. The ERA Real Estate network includes more than 2,600 independently owned and operated brokerage offices with more than 28,000 brokers and sales associates throughout the United States and 19 other countries and territories. ERA is available to consumers on the Internet at www.ERA.com.
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