HomeLife Acquires Canadian Company
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HomeLife Inc., a Newport Beach-based real estate and mortgage financing services provider, said Wednesday that it has acquired Higher Standards Realty Inc. of Calgary, Alberta, for an undisclosed sum.
The Canadian company will be merged with the existing offices of HomeLife Builders Realty, adding 40 salespeople and about $1.5 million in revenue to HomeLife’s operations in Canada. This marks HomeLife’s eighth acquisition since 1995.
In addition, HomeLife said that its second-quarter net income totaled $47,535, or 1 cent a share, up from $35,509, or 1 cent a share, a year earlier. Sales increased to $2.6 million from $689,000.
The company said that originating loans through teleconferencing and the Internet will be a major source of revenue and profit in the coming year.
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