Santa Barbara-based Radius recently completed a deal that will expand its footprint and grow its brand. Hagelis specializes in retail properties in Ventura County, which will broaden Radius’ reach and expertise, said Brian Johnson of Radius, which predominantly works in the South County multifamily, office and industrial markets.
“It will increase access to the Ventura County market for our clients in Santa Barbara and the South County and open up additional opportunities for investors,” Johnson told the Business Times. “And it will give the folks at Hagelis more opportunities to compete in our market.”
Hagelis will retain its five employees and remain at its office at 4227 E. Main St., Ste. 220 in Ventura. It will also keep its name and the staff will operate as advisers under the Radius Group.
“They are well-known and well-respected in the industry and Hagelis fits with our identity and culture,” Johnson said.
Radius has 21 brokers and the acquisition makes them one of the biggest tri-county real estate firms by number of brokers along with Lee & Associates, according to Business Times research.
The acquisition, completed Aug. 29, will give Hagelis more opportunity to grow its business rather than worry about the day-to-day administrative tasks of running a small business, Bill Hagelis of the Hagelis Group said.
“This will help us proceed in a more strategic growth mode to grow our brand and own personal business,” he said. “Having the support and referral network with Radius will allow us to enhance both platforms.”
Financial terms of the deal were not disclosed.
“With their connections in the retail world and our resources and branding and tools, it will be beneficial across the board,” Johnson said.
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