Compass Inc. (NYSE:COMP) has announced its acquisition of @properties and Christie’s International Real Estate for $150 million in cash and over 44 million in shares of Compass’ class A common stock.
@properties is the eighth-largest US residential brokerage by sales volume, with operations in Illinois, Indiana, Michigan, Wisconsin; the company operates in the Metro Atlanta market through the Ansley Real Estate brand. @properties acquired Christie’s International Real Estate in 2021, and that entity has global network of over 100 independently owned domestic and international affiliates across 50 countries and territories.
After the acquisition, @properties’ Northern California operation, which is under the Christie’s International Real Estate Sereno brand, will become an independent brokerage while maintaining its network affiliation. Compass plans to continue to grow the independent affiliate network through the Christie’s International Real Estate brand both domestically and internationally.
“This partnership will allow us to empower strong independent brokerages and broker-owner entrepreneurs around the world who are affiliates under Christie’s International Real Estate,” said Robert Reffkin, Compass founder and CEO. “Our companies share the same passion for empowering entrepreneurial agents. Together, we will be able to provide unparalleled resources and support to help everyone succeed and deliver exceptional client experiences.”
This is the third acquisition of the year for Compass, which previously purchased Tennessee-based Parks Real Estate and Louisiana-based Latter & Blum.
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