Long & Foster joins forces with Urban Pace

The Chantilly-based Long & Foster Cos., parent company of Long & Foster Real Estate, said Thursday that it has invested in Urban Pace, a new construction sales and marketing firm based in Washington, D.C.

Urban Pace will continue to operate under its same brand and team at its current office location and will become part of the Long & Foster group of companies.

“In regions like Washington, D.C., urban developments — whether they’re high-rise or townhouse-style condos — are thriving, and our team at Long & Foster recognized the opportunities for our company’s and our agents’ growth by partnering with a firm like Urban Pace,” Jeffrey S. Detwiler, president and COO of The Long & Foster Cos., said in a statement. “Working with Urban Pace, we’ll not only increase our leading presence in the urban markets, but also better serve the D.C. area’s home buyers and sellers with added knowledge and insight into new construction opportunities.”

Lynn Hackney, previously Urban Pace’s president, will assume a new role as CEO with Urban Pace, focusing on the firm’s strategic direction and vision. In that position, Hackney will work to expand Urban Pace into new urban markets and advance the firm’s technology platform by leveraging the Long & Foster relationship.

Matt Dewey, who has been with Urban Pace for 11 years, will take on the role of president at Urban Pace, handling day-to-day operations and activities.

“Our partnership with Long & Foster elevates the products and services we provide our clients, from enhanced research and insights to more robust technology and an improved marketing platform,” said Hackney.

The Long & Foster Cos. is the nation’s third largest real estate company and the country’s No. 1 privately owned real estate firm. In addition to its real estate arm, the Long & Foster Cos. consists of Prosperity Home Mortgages LLC, Long & Foster Insurance Inc. and Long & Foster Settlement Services.

According to the company, its 2015 combined sales for the year were in excess of $56.8 billion.