22nd July 2011
Property.com acquired for property portal
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The two descriptive domain names property.com and properties.com have been acquired from Rick Schwartz by the owners of Condo.com and Houses.com, two leading online residential real estate portals.
Although the exact details of the deal haven't been disclosed, Schwartz recently indicated that it invloved $4 million plus an equity stake in the business.
Schwartz previously bought the property.com domain name for $750,000 in 2005.
Property.com is well-positioned to do well as the Company’s third real estate portal, adding the property types offered within the massive commercial real estate market. According to their press release, the new site will showcase office space, retail properties, multi-family buildings, industrial and warehouse space, land, and residential properties from all over the world.
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