Coldwell Banker Commercial Affiliates LLC, a leading commercial real estate franchise organization, today announced the promotion of Fred Schmidt, who will now serve as the company’s president and chief operating officer. Schmidt succeeds Rick Davidson, who had led the Coldwell Banker CommercialÂ® brand since May 2006. In a separate announcement today, Davidson was appointed as president and chief executive officer of Century 21 Real Estate LLC. Both franchise brands are subsidiaries of Realogy Corporation, a leading global provider of real estate and relocation services. The leadership transition will begin immediately.
“In Fred Schmidt, we have a proven commercial real estate professional to lead the Coldwell Banker Commercial organization,” said Alex Perriello, president and chief executive officer of the Realogy Franchise Group. “Fred has a demonstrated record of success in building relationships with and developing significant new business opportunities on behalf of our commercial broker network. I am especially pleased that we were able to make these executive appointments from within Realogy, which speaks to the high level of managerial talent that exists across our organization.”