BAY AREA - The sale of Pacific Union Real Estate to Morgan Lane Marin closed. Morgan Lane Chief Executive Officer Mark McLaughlin formed a new company, Pacific Union International Inc., as parent to both Pacific Union and Morgan Lane for business, management and accounting reasons.

The Northern California luxury real estate brands combined have 17 offices, more than 430 real estate professionals and 2009 sales volume projected to be $2.4 billion. The two companies will continue to operate under their existing names.