Business: Warren Buffett company buys Intero Real Estate

HomeServices of America Inc., an affiliate of Warren Buffett's holding company Berkshire Hathaway, has acquired Intero Real Estate Services, which has offices in Menlo Park and Woodside.

Local Intero offices were opened in 2012 by senior vice president Alain Pinel, a well-known real estate entrepreneur.

Founded in 2002, Intero has 13 offices in Northern California and is headquartered in Cupertino.

In its May 13 announcement, HomeServices, which says it is the second-largest residential real estate brokerage in the United States, did not disclose the price it paid to buy Intero and its affiliated franchise network, Intero Franchise Services. The Interno brand name will not change, says CEO and president Gino Biefari, who will remain with the company.

In 2013, the Intero franchise network had a sales volume of $5.7 billion, according to HomeServices.

In a 2012 article in the Almanac, Alain Pinel said Intero's focus in both Menlo Park and Woodside would be the luxury market nationally and internationally. Mr. Pinel was the founder of a national real estate company that bears his name.

There are 16 real estate agents at the Menlo Park Intero offices, located at 807 Santa Cruz Ave.

Twelve agents are affiliated with the Woodside Intero offices at 1580 Canada Lane.

Warren Buffet, chairman and CEO of Berkshire Hathaway, ranks as one of the world's richest men, with a fortune of more than $60 billion. Berkshire Hathaway owns dozens of subsidiaries in many industries.


There are no comments yet. Please share yours below.

Don't miss out on the discussion!
Sign up to be notified of new comments on this topic.


Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Food Party! 420
By Laura Stec | 5 comments | 1,715 views

What Are Your Gifts that Must Be Shared?
By Chandrama Anderson | 1 comment | 774 views


Readers' Choice ballot is here

It’s time to decide what local business is worthy of the title “Almanac Readers' Choice” — and you get to decide! Cast your ballot online. Voting ends May 29th. Stay tuned for the results in the July 19th issue of The Almanac.