The New York City-headquartered real estate brokerage Compass (NYSE: COMP) is expanding into the Gulf South markets with its acquisition of the New Orleans-headquartered brokerage Latter & Blum.
Latter & Blum was founded in 1916 and is led by Chairman Robert Merrick and CEO Lacey Merrick Conway, who will continue to manage operations locally. The firm has 3,100 agents across four Gulf South states and some generated approximately $3.6 billion in sales last year.
“We are excited to welcome the number one brokerage in the Gulf South to Compass,” said Compass Founder and CEO Robert Reffkin. “We will now have a firm presence across the Gulf Coast, from Texas to Florida, providing more opportunities for our agents to transact and better serve their clients.”
“At Latter & Blum, we take pride in creating life-changing opportunities and meaningful careers for agents,” said Merrick Conway. “This partnership enhances our commitment, providing our agents and the local community access to an expansive referral network and cutting-edge tools driving the industry forward while maintaining our local culture and expertise.
The financial terms of the transaction were not disclosed.
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