Douglas Elliman buys Los Angeles-based Teles Properties

Douglas Elliman Buys Los Angeles-Based Teles Properties

Douglas Elliman announced today that it will buy Los Angeles-based brokerage Teles Properties, making Douglas Elliman the second largest non-franchise brokerage firm in California. The deal, expected to close in the second week of August, will bring Douglas Elliman’s California office count to 21, with 630 sales associates in the Golden State, and expands its Colorado presence to five offices and 58 associates.