Americana LLC, dba Prudential Americana Group Realtors , has officially exited its debt restructuring filed in November 2007.
United States bankruptcy Judge Bruce Markell entered an order confirming the company’s plan of reorganization on July 25. Chief Executive Officer Mark Stark said he looks forward to the company’s future.
“We are continuing our commitment of partnering with the brightest talent available in the market,” he said.
Last month the company merged with O’Keefe and Casto, an independent Las Vegas real estate firm with nearly two dozen agents, who now will be part of Prudential Americana Group and bring its total number of agents to nearly 1,100 in Southern Nevada.
Stark said part of the company’s reorganization success is due to a commitment from the financing arm of its franchisor, Prudential Real Estate Financial Services of America.
The company has joined Prudential Americana as a minority partner.
According to Stark, Prudential Americana Group’s ability to reorganize in the face of a difficult real estate environment shows that the market is down, but not out.
“Many are now realizing that there is a great opportunity to do well in this market by taking advantage of the downturn. It will not be down forever.”
Stark said he believes the market correction has helped “weed out” those agents and brokers who weren’t serious about the business and may not have been as effective as those who survived the shift.
Prudential Americana Group Realtors is an independently owned and operated member of Prudential Real Estate affiliates.
For more information, visit americanagroup.com or call 796-7777.