Title agency expands out of state
A title agency is putting down roots in a major Midwest real estate market through an acquisition.
Transnation Title Agency in Grand Rapids, a real estate title and closing services provider, has expanded its brick-and-mortar presence out of state, as of April 15, with the acquisition of Indianapolis-based National Escrow Title.
Prior to the deal, Transnation was an exclusively Michigan title agency, with roughly 25 offices throughout the state. The company is also licensed in Wisconsin, Indiana, Ohio and Pennsylvania to provide services to its clients.
With a number of customers conducting business in Indiana, the agency began discussions with National Escrow Title about a potential affiliation, according to Monte Reinert, owner and CEO, Transnation Title Agency.
“We have those licenses, because we have customers in Michigan who makes loans or buy property in these adjoining states, so it is a matter of servicing them,” Reinert said. “We came across this company in Indianapolis, National Escrow Title, and we talked to them over a course of a few months, came to an agreement and moved forward with it. We have some customers who do business in Indiana, and we have serviced them, but never had any brick or mortar down there until this acquisition.”
National Escrow Title is located at 1648 Fry Rd. and provides title insurance, escrow services, marketing services and construction services.
The five employees at National Escrow Title at the time of the acquisition will remain on staff, and Transnation anticipates hiring additional people.
“We found the people down there at National Escrow Title were a lot of like-minded people, and we thought they would fit really well into our culture,” Reinert said. “We felt very comfortable with that. We are pretty excited about it. We are actually able to offer them a little better benefit package than what they had.”
With a vibrant city, Reinert said the Indianapolis market is one of the better real estate markets in the Midwest.
“It is a lot like Grand Rapids, but probably four to five times bigger,” Reinert said. “There are a lot of the same things going on there, and we really liked that. We saw it as a positive place. We liked the regulatory climate, and we felt by looking at some of the competition down there we could differentiate ourselves a little bit from competitors.”
Transnation Title Agency
Transnation Title Agency is 100 percent employee owned by its roughly 180-member staff.
The company was recognized on “The Build 100” ranking by Inc. magazine as among the top 100 sustained-growth companies in the nation in 2014.
The title agency provides services in multiple real estate services: residential, commercial, construction, tax deferred exchanging and marketing and design.