The Keyes Company has acquired Boca Realty Inc., the second Boca Raton firm to join the company this year. 

Boca Realty, led by founding partner Nick Rotenberger, has more than 100 agents and generated more than $250 million in sales volume in recent years. Boca Realty will keep its office at 200 W. Palmetto Park Road and function as the “Boca East” office of Keyes, according to a news release.

Keyes previously acquired Mizner Grande Realty and its 60 agents into its existing Boca Raton office. Keyes — Florida’s largest independent brokerage — is in active discussions about potential mergers with other boutique brokerages in Palm Beach County and the Treasure Coast, the company said.

In 2022, Keyes made multiple acquisitions, including Miramar-based Novus Realty and Coral Springs-based Skye Louis Realty. Those deals added more than 170 agents and $240 million in annual volume to the firm in Broward and Palm Beach counties.

“Industry consolidation continues to put pressure on even the most successful boutique brokerages,” Keyes CEO Mike Pappas said. “In recent years, we have established a proven track record as an ideal strategic partner for these firms. As a family-owned, independent firm with a strong culture, we often stand out when owners of boutique brokerages are considering such partners.”

Boca Realty was founded in 2015 and specializes in luxury and waterfront homes as well as multifamily investment and commercial properties. 

“I am proud of our brokerage’s growth in a relatively short period of time,” Rotenberger said. “Keyes gives us an opportunity to reach new heights through its local and global network, technology and marketing. The Keyes leadership team operates with the highest ethical standards and emphasizes its people and the communities it serves.”