The last time I wrote an article mentioning Peter Niederman, it was when his company acquired Denver.com in a seven figure deal. Peter’s company made another acquisition this week, and while the deal isn’t worth as much as the Denver.com deal, the acqusition is highly valuable to the company.
Peter’s company, Kentwood Real Estate, purchased Kentwood.com from Scott Day’s Digimedia for $40,000. The domain name is now forwarding to DenverRealEstate.com, the primary website for Kentwood. The deal was transacted without the assistance of an intermediary. “As an end user, this is well suited for my real estate company in Denver called Kentwood Real Estate. We will continue to operate our website under DenverRealEstate.com,” Peter told me.
If you live in the Denver area, you’ve probably heard of Kentwood Real Estate. In 2012, Kentwood closed more than $1.7 Billion in real estate transactions in the state of Colorado. This year, the company is on track to surpass $2 billion in transactions. I am told that Kentwood controls the largest residential real estate market share in the metro Denver area.
There are at least two cities called Kentwood and a number of companies that use Kentwood as their brand name or in their brand name. Buying Kentwood.com may not have been critical for the company, but it certainly was a smart acquisition.