Compass Inc. Acquires @properties Christie’s International Real Estate: What You Need to Know

Compass Inc. recently made headlines by announcing its acquisition of @properties and Christie’s International Real Estate, according to a report by the Real Deal. This move signals a shift in the real estate landscape, with major players consolidating on a national scale. The acquisition comes with a hefty price tag of $150 million in cash and approximately 44 million shares of Compass Inc.’s Class A common stock, totaling $444 million. This deal marks Compass’ largest acquisition to date, following previous additions of Parks Real Estate in Tennessee and Latter & Blum in Louisiana.

Christie’s International Real Estate, known for its association with the prestigious Christie’s auction house, boasts a network of over 100 independently-owned affiliates spanning 50 countries and territories. Meanwhile, @properties ranks as the 8th largest residential brokerage in the US by sales volume, as per RealTrends Verified rankings.

In Texas, @properties Christie’s International Real Estate holds a significant presence through @properties Christie’s International Real Estate Lone Star, with Jerry Mooty leading the way as CEO. While the details of the impact on Texas remain unclear, Compass specified in a release that the merger includes @properties operations in Greater Chicago, Indiana, Michigan, Wisconsin, and Metro Atlanta under the Ansley Real Estate brand. Interestingly, a revised press release was issued to rectify the omission of the Metro Atlanta group led by Bonneau Ansley.

A closer examination of the deal reveals that Christie’s International Real Estate boasts over 100 independently owned affiliates across 50 countries and territories, while @properties operates in various regions, including Greater Chicago, Indiana, Michigan, Wisconsin, and Metro Atlanta through the Ansley Real Estate brand. Notably, @properties’ Northern California operation under the Christie’s International Real Estate Sereno brand will continue as an independent brokerage while retaining its network affiliation.

Interestingly, the Compass press release did not explicitly mention Texas or the DC area. The specific territories affected by the acquisition are somewhat ambiguous, as each office operates independently. It’s worth noting that @properties Christie’s International’s website lists only Texas and the DC area as locations not named in the Compass release. This suggests that there may be other brand affiliates excluded from the acquisition.