LoopNet Inc. and PropertyFirst.com Inc. complete merger for Internet real estate site

SAN FRANCISCO, LOS ANGELES °© LoopNet Inc., San Francisco, and PropertyFirst.com Inc., Los Angeles, have completed a merger. The combined company will be the largest online commercial real estate Web site and will operate under the name LoopNet.

A new Web site for the combined companies will go online this summer. LoopNet estimates that the new site will include $130 billion of properties for sale, and 2 billion sq. ft. of space for lease. Richard Boyle has been named president and CEO of the new company. He previously was in charge of product and technology development and operations at LoopNet.

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