Coastwalk Real Estate, a real estate firm that has specialized in selling homes in Carolina Beach and Kure Beach, announced Wednesday that it is merging with Wilmington-based Coldwell Banker Sea Coast Advantage, one of the largest residential real estate firms in Southeastern North Carolina.

With the merger, Coastwalk’s 46 agents and managers will operate as Coldwell Banker Sea Coast Advantage, which has been locally owned and operated since 1988, according to a news release. The announcement was made Wednesday at a sales meeting attended by Coastwalk agents at the Carolina Beach Marriott, the release stated. 

The financial details of the merger were not disclosed.

Justin Donaton (pictured at right), co-owner of Coastwalk Real Estate with his wife, Aimee, will continue to list and sell property as an agent with the firm, and he will continue to act as a resource and mentor to Coastwalk agents, according to the release. Coastwalk was founded in Carolina Beach in 1996.

The release said Coastwalk’s four existing offices in Carolina Beach and Wilmington will remain open and its four brokers-in-charge will continue to operate in their current jobs. Kimberly Sands, managing broker of the Carolina Beach office of Coldwell Banker Sea Coast Advantage, will oversee operations for the merged companies on Pleasure Island, the release stated.

 “Coastwalk and Sea Coast Advantage’s cultures and philosophies are well aligned -- particularly our work ethic and high level of professionalism,” said Donaton in the release. “These similarities make this merger a great fit and I am confident we will work very well together. And the timing of the merger couldn’t be better. The dynamics in real estate are changing, and the resources required to succeed in this business are more important than ever. With the merger, we now have access to a wide array of resources that will strengthen, expand and build on our success.”

Tim Milam (pictured below), president of Coldwell Banker Sea Coast Advantage, stated in the release, “Coastwalk is a hugely successful company with a great reputation and excellent agents. We look forward to building on this success and helping their 46 agents grow their business both on and off Pleasure Island. The merger brings many benefits to both the agents and their clients and we look forward to a successful future together.”

The Coastwalk office locations include 103 S. Lake Park Blvd, 1009 N. Lake Park Blvd. and 105 Tennessee Ave. in Carolina Beach; and 4037 Masonboro Loop Road in Wilmington, according to the release. These offices closed more than $128.3 million in sales and 442 sales transactions in 2017, the release stated.

 “Coastwalk has grown to the company it is today through our ability and willingness to adapt to market changes,” said Donaton in the release. “This merger will spur new growth and create significant benefits for both our agents and buyers and sellers.”

Donaton said in the release that these benefits include access to referrals throughout North Carolina and South Carolina; state-of-the-art technologies that make buying and selling a home easier for homeowners; an ability to reach a broader group of potential buyers to facilitate more sales; enhanced marketing and social media campaigns; access to a Technology Help Desk for all agents, a Training Director, Social Media Coordinator, Marketing Trainer and more.

“Another big benefit for our listing agents is the opportunity to expand their listings outside of our current footprint in New Hanover County to Brunswick, Pender and Onslow counties, where Sea Coast Advantage has a dominant presence,” he said in the release.

Milam said in the announcement that there will be changes with the merger, but they will occur over time and with input from Coastwalk agents. 

“Everything about this merger is positive, including its implementation,” Milam said in the release. “The changes will occur over time and will not disrupt agent’s existing business. One change that we all agree on, however, is the introduction of new tools and technologies, like our proprietary CBx technology that uses BIG DATA to identify potential buyers and sellers. We’ll be conducting a variety of onsite training classes on IT and will identify ways to increase agent’s efficiencies. The IT department at Sea Coast Advantage is invaluable and they handle the technology so our agents can concentrate on what they do best, which is helping their clients buy and sell real estate.”

 Added Donaton in the release, “This is a new day for both companies, and as a result, an abundance of marketing resources, logistical and administrative support will be deployed that will allow agents to sell more homes, in less time and with fewer hassles.

Coldwell Banker Sea Coast Advantage's market includes New Hanover, Brunswick, Pender and Onslow counties, with $1.628 billion in closed sales volume and 7,023 closed sales transactions in 2017, according to the release.