Peninsula Real Estate Powerhouses Unveil Cashin Company.

BURLINGAME, Calif.--(BUSINESS WIRE)--Aug. 7, 1995--After months of anticipation, former Fox & Carskadon executives Emmet J. Cashin, Jr. and Emmet J. "Skip" Cashin III have announced the formation of their new residential real estate brokerage firm, Cashin Company.

Joined by fellow Fox & Carskadon veterans Chuck Alloo and Rick LeDoux, the new firm marks a reunion of old colleagues and a return to the business traditions that originally made the name Cashin synonymous with Bay Area real estate success.

"Cashin Company is all about getting back to our roots," said Skip Cashin, 49, who is the new brokerage firm's president and CEO. "We're taking everything that we learned from our days at Fox & Carskadon and putting it into a local, family-run business."

While Cashin Company will offer the same high caliber of services that helped build Fox & Carskadon into the nation's fifth-largest residential brokerage firm, Cashin said he is intent on keeping the new company a local, family business that stresses quality rather than quantity. "We don't want to be the biggest -- just the best," said Cashin.

The formation of Cashin Company comes on the heels of the Cashins' acquisition in April of Stephens Real Estate, Inc., the Burlingame/Hillsborough boutique firm specializing in the sale of quality single family homes. Cashin says the new firm will emphasize market niche rather than market dominance, and will build on the agent base and expertise that Stephens has cultivated.

While the Fox tradition plays a defining role for the new brokerage, Cashin Company is anything but old fashioned. Among the innovative new approaches Cashin Company will take to marketing and communications is a home page posted on the Internet's World Wide Web. Found at http://www.cashin.com, the Web site will include information on listings and open homes, as well as company and agent profiles.

Management of the new company draws on the collective experience of some of the most influential names in Bay Area real estate. Cashin Company is managed by Rick LeDoux, 47, who brings more than 20 years of experience working in the San Mateo/Hillsborough market, and high recognition among the area's existing and potential clientele. Chuck Alloo, 47, serves as chief financial officer -- the same post he held at Fox & Carskadon. Chairing Cashin Company is Emmet J. Cashin, Jr., 71, who along with his son Skip transformed Fox & Carskadon into the largest, most successful residential brokerage on the Peninsula, and who has been a pioneer in the commercial and real estate syndication arenas.

Skip Cashin said he plans to expand the business, and is pursuing other acquisitions, but will concentrate on service and quality rather than numbers of offices or agents. The company will begin construction of a new office in Burlingame within the next six months, and will operate in Menlo Park, Palo Alto, Hillsborough/Burlingame, San Mateo, San Carlos, Woodside and Atherton -- with likely expansion into the Los Altos and Saratoga/Los Gatos areas.

And how does the Fox & Carskadon veteran feel about returning to his old haunts? "It's just like coming home," Cashin said.

CONTACT: Cashin Company

Skip Cashin, 415/324-2354

or

MacKenzie Communications

Janis MacKenzie, 415/433-8200