Howard Hanna nabs Maine’s top indie in latest M&A
The family-owned firm notches another acquisition — and enters the Maine, New Hampshire and Massachusetts markets — with the addition of Portside Real Estate.
Family-owned powerhouse Howard Hanna Real Estate Services has made another notable M&A, expanding its reach into a new market for the company: Northern New England.
The brokerage announced today that it is acquiring Portside Real Estate Group, the largest independent firm in Maine, which also serves parts of New Hampshire and Massachusetts. Portside's more than 225 agents and 12 offices will now operate as a subsidiary of Howard Hanna while retaining its local leadership.
The boutique firm will transition to Howard Hanna's branding over time, "but our priority is preserving the leadership, culture, relationships and local identity that have made Portside so successful," Howard Hanna CEO Hoby Hanna told Real Estate News in an email.
Portside was founded in 2012 by Dava Davin, who has led the independent brokerage since its inception and will continue to oversee the firm. The brokerage has grown significantly under Davin's leadership: Just over a year ago, Portside merged with another woman-owned independent brokerage, Swan Agency Real Estate, also based in Maine; and in 2024, Portside acquired Lakepoint Real Estate, a boutique firm specializing in lakefront sales.
Portside's 2025 sales volume was $1.5 billion, according to a news release.
Strength in numbers
The Portside partnership aligns with Howard Hanna's strategy of "thoughtful, disciplined growth" through the acquisition of established regional firms with compatible cultures and a strong community focus, according to Hanna, who added that the union serves as a win-win for indie brokerages.
"Portside has built an extraordinary company with dominant market share. This alliance proves that by joining forces, independent, family-owned brokerages can deliver the national scale and institutional resources that benefit both agents and the clients they serve, while preserving the agility and local decision-making that define independent companies," Hanna said in the announcement.
From Davin's perspective, the partnership means "Portside is getting stronger."
"We've built something really special together," Davin said. "Partnering with Howard Hanna lets us protect everything that makes us unique while opening doors we couldn't open on our own."
In search of excellence, not fixer-uppers
The latest deal marks Howard Hanna's third major acquisition in 10 months.
The brokerage scored a significant win in October with its acquisition of Elegran Real Estate, an established independent New York City firm, and just last month announced it had acquired Carolina Realty of the Lowcountry, a move that increased its South Carolina footprint after two previous acquisitions in the region in 2024 and 2025.
In an era of brokerage consolidation, expansion could be the key to success for some firms. But Hanna has repeatedly emphasized the importance of taking a measured approach.
"Thoughtful growth is part of our long-term strategy, and we do expect to announce additional partnerships in the coming months," Hanna noted. "That said, we're highly selective. We're focused on finding companies that share our values and long-term view of the business rather than pursuing growth for growth's sake."
When asked if the firm's growth could extend beyond the Eastern U.S., Hanna said, "We start with the company before we start with the map."
"We aren't looking for companies that need to be fixed," Hanna noted. "We're looking for market leaders who want to remain independent while gaining the benefits of a larger platform. Geography is secondary to finding the right partners, so we'll continue evaluating opportunities wherever that combination exists."
Editor's note: This story has been updated with additional comments from Howard Hanna CEO Hoby Hanna.