Crye-Leike Promotes New Country Club Community in Lebanon

Brentwood, Tenn. –  Crye-Leike, Realtors, the largest real estate company in Tennessee and the Midsouth, has purchased Five Oaks Realty in Lebanon, Tenn., announced Harold E. Crye, chief executive officer of Crye-Leike. The marketing and sales support provided by Five Oaks Realty for Lebanon’s newest 506-acre golf course and country club and residential community development, Five Oaks, will now be under the management of Crye-Leike, Realtors.

“Our company is doing more of these types of marketing alliances due to the slowing of the real estate market,” said Crye. “Many developers are beginning to outsource their marketing of projects and Crye-Leike has the marketing resources to meet their needs. Five Oaks Realty sees the value of affiliating with a strong real estate company with a large Middle Tennessee presence.”

Five Oaks is located at 3875 Lebanon Road (Highway 70) in Lebanon, Tenn. which is three miles east of Highway 109, near Lebanon’s city limits, and six miles northeast of Interstate 40. It opened the first phase of its real estate development last year. With its 18-hole championship golf course scheduled to open in June, Five Oaks has contracted for or sold more than 50 residential lots with approximately a dozen homes under construction.

The Five Oaks community also features a tennis center; clubhouse swimming pool and facilities; wooded lots with underground utilities as well as large estate sites and homesites bordering golf course fairways or with golf course views.

Crye-Leike, Realtors will close Five Oaks Realty, as of Friday, February 2, 2001, and consolidate operations into its branch office located at 1285 North Mount Juliet Road which is under the brokerage and management of Martin Cummings. A sales office will remain on-site with Crye-Leike agents on duty seven days a week. Crye-Leike sales associate Margaret Dixon will oversee the marketing and sales of 300 homesites at Five Oaks with the first phase containing 136.

The sale, which was secured at an undisclosed amount, was for the real estate company only and did not include the purchase of Five Oaks’ construction company or golf course, noted Cummings.

Crye-Leike will be involved in the real estate transaction of bringing in potential buyers, but notes Dixon, “All Realtors? and their respective companies are welcome.”

Monty Mires, managing partner of the Five Oaks investment group, said the sale of Five Oaks Realty to Crye-Leike will enable Five Oaks to broaden its marketing plan to one that encompasses more of a regional concept.

“We’re extremely pleased with the reception Five Oaks has received locally, including both real estate and country club membership sales. I believe Five Oaks has much to offer not only Wilson County but also the surrounding area and it is for this reason we have chosen to enlist Harold Crye’s company,” Mires said.

“Crye-Leike has a sales force of over 800 sales associates in the Middle Tennessee area as well as a national relocation network. This powerful network will increase awareness of Lebanon’s newest community,” said Tom Kimbrough, vice president and general manager of Crye-Leike of Nashville, Inc.

Crye-Leike (www.crye-leike.com)  is the largest real estate company in Tennessee and the Midsouth with a network of over 45 branch offices, 2,100 sales associates and over 480 employees. As a privately held company, Crye-Leike attained record sales of nearly $3 billion corporatewide in 2000, the second best year in the company’s 24-year history. Nationally, Crye-Leike is ranked No. 10 among the nation’s top 500 residential real estate brokerage firms, as reported in May 2000 by REAL Trends Magazine.

As a full service real estate company, Crye-Leike offers real estate and related services, including: an insurance division, a commercial property division, a property leasing and management company, a home improvement division, a title company, an auction division, a relocation division, franchise division, premier properties division and new homes division.

Crye-Leike of Nashville, Inc. entered Nashville’s real estate market in 1992. It has 19 branch offices in the Greater Nashville area within Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties, along with two Tennessee franchises in Monteagle (Grundy County) and Pickwick Dam (Hardin County). Crye-Leike of Nashville, Inc. recorded 7,491 units sold in 2000, representing a sales volume of $1.08 billion.