Donnie Jarreau Real Estate is merging its commercial operations with NAI/Latter & Blum Inc. in a move that reunites Jarreau with the company where he got his start in 1989.
“It’s a homecoming,” said Karl Landreneau, NAI Latter & Blum director.
Financial terms of the deal were not disclosed. The company will operate under the name NAI/Latter & Blum — Donnie Jarreau Real Estate. The 10 employees on the commercial side of Jarreau’s firm now work for Latter & Blum, while the residential portion of his business will remain independent.
Rick Haase, president of New Orleans-based Latter & Blum, said the merger fits with his company’s policy of growing by joining with strong local real estate companies. Latter & Blum also operates C.J. Brown Realtors in Baton Rouge, which it acquired in 1995.
Jarreau said the move will provide more resources to his clients, in terms of research, technology and reach. If a business is looking at expanding into Texas, Mississippi or Alabama, or even internationally, it will be easier to do that with NAI/Latter & Blum.
Jarreau opened his firm in 1998. Landreneau said he told Jarreau 10 years ago to let him know any time he wanted to merge with Latter & Blum. A national real estate firm recently reached out to Jarreau, then he ran into Landreneau at a restaurant. “Donnie said, ‘I need to talk to you, ’ ” Landreneau said. “Sixty days later, we struck a deal.”
Jarreau owns and manages 800,000 square feet of retail space, including the Southdowns and Drusilla Village shopping centers.
“Donnie and his company of commercial agents are very accomplished professionals, and it’s a great fit for both organizations,” Haase said. “The timing for us couldn’t be better as Baton Rouge continues to be one of our strongest regions of operation.”
Latter & Blum is a top 40 real estate brokerage and home services company with sales of more than $2.92 billion.
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