REAL ESTATE

Coldwell Banker to Relocate Franchise Arm to N.J.: The announcement comes just two months after the Mission Viejo real estate firm was purchased by the world’s largest hotel and real estate franchiser, HFS Inc. Parsippany, N.J.-based HFS acquired Coldwell in a deal worth $740 million earlier this year, part of the wave of consolidation in the nation’s real estate industry. HFS said it will relocate Coldwell Banker’s Residential Affiliates division, which has 50 full-time employees and oversees about 2,500 franchised offices, to its headquarters. The bulk of Coldwell’s workers, about 550, will remain in Mission Viejo. They are assigned to the firm’s Corporate Relocation division and Coldwell’s Residential Brokerage, which owns 325 real estate offices.