Merger joins real estate brands in Falmouth and Bar Harbor
Photo / Courtesy Portside Real Estate Group
Kim Swan, left, and Dava Davin merged their real estate firms. They’re seen here in front of Swan’s Bar Harbor office.
Falmouth-based Portside Real Estate Group and Swan Agency Real Estate in Bar Harbor are merging to build on strengths across a variety of market segments.
Portside is led by Dava Davin and Swan Agency by Kim Swan. Both are Mainebiz Women to Watch honorees, Davin in 2018 and Swan in 2019.
Terms of the deal were not disclosed.
“We’re aligned in how we lead and why we do this work,” Davin said of her new business partner. “We both believe in using our success to give back and, with that shared purpose, we’re focused on creating a lasting legacy that impacts Maine in a meaningful way.”
Both firms have philanthropy programs. Through its "1% Back" program, Portside has donated over $1 million to nonprofits across Maine and New Hampshire. Swan Agency’s “Share Our Success” initiative gave over $60,000 to its community as part of its 50th anniversary celebration this year. “Share Our Success” will merge into "1% Back."
Expansion
Davin left a career in the pharmaceutical industry in 2008 to move to Maine and pursue residential real estate.
After four years with a large franchise, she founded Portside in Falmouth in 2012 and specializes in residential, new construction and multifamily properties.
The merger is part of Portside’s expansion. Over the past 12 months, Portside has achieved over $1.2 billion in sales across its residential, new construction and multifamily divisions.
Last year, it acquired Lakepoint Real Estate in the Belgrade Lakes region. Portside plans to open an office in downtown Portsmouth, N.H., later this summer in response to increased demand from agents and clients.
50 years
Swan Agency was started by Kim Swan’s parents in 1975. She joined the family company in 1981 and bought the real estate division in 1994. The company operates in the Mount Desert Island/Hancock County residential and commercial market and in the statewide hospitality market.
Swan had $87 million in transactions last year, across residential, hospitality and commercial properties.
“Mount Desert Island is where I grew up, spent my company ownership career growing a second generation family business and prospered in a community that has been so supportive, enabling me to be in a position to give back and that’s what I appreciate most.” said Swan. “Joining forces with Portside allows all of us at Swan Agency to stay rooted in our values while expanding our impact with a partner who shares our purpose.”
Conversations about merging began about a year ago.
“Kim and I have known each other for a long time and have always been in sync,” said Davin.
Woman-owned
Swan said she pursued the tie-up because she was ready to retire from company ownership and management after shepherding the agency to its 50th anniversary earlier this year.
“I felt like I had this huge accomplishment when I got the company to 50 years,” she said. “We celebrated. It was a big, big deal.”
She’ll remain active in the brokerage and is developing a 53-acre animal rescue farm and eco-resort in Sullivan and
In Davin, she said, she found someone who shares her sense of commitment to her team and community.
“It puts the company into the hands of someone with our same culture, our same community commitment,” she said. “Woman–owned and independent were important to me. And I wanted to make sure my colleagues, many of whom are my close friends, are well taken care of.”
Portside will also provide greater exposure for buyers and sellers on Mount Desert Island and in Hancock County in general, Swan added.
Co-branding
“We’re looking at this as combining our strengths,” Davin said. “The Swan name has been such a leading brand on MDI for 50 years.”
The Swan Agency name will be co-branded with Portside in the MDI area, with two names side-by-side.
In addition to its headquarters in Falmouth, Portside has seven other Maine offices and one in New Hampshire, with over 175 agents.
Swan has offices in Bar Harbor and Northeast Harbor and will bring on another 25 agents.
The partnership brings Swan’s Agency’s hospitality division to Portside. Established by Kim Swan over 30 years ago, the division is today led by Swan Agency’s Dana Moos.
"We have two strong local brands, led by local people," said Davin. "In a time when consolidation is happening across industries, it’s incredibly important to us to maintain economies of scale while staying truly local, truly Maine and truly authentic."
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