Warren Buffett’s Berkshire Hathaway plans big international expansion

Company has teamed up with London and Berlin-based brokerages, eyes Paris, Madrid, Hong Kong and others

National /
Nov.November 13, 2018 11:31 AM

Warren Buffett, Samuel Bikhit , and Dubai (Credit: Getty Images, Kay & Co, and Wikipedia)

Warren Buffett’s Berkshire Hathaway HomeServices has teamed up with a London-based firm to expand his residential brokerage to Milan, Dubai and Vienna.

Berkshire is partnering with Kay & Co. — now called Berkshire Hathaway HomeServices Kay & Co. — to open as many as 10 new offices in the next decade, Bloomberg reported. Kay is Berkshire’s second franchisee in Europe. In March, the company added Berlin-based Rubina Real Estate.

The company is also in talks with prospective partners in Paris and Madrid and is mulling expanding into Hong Kong, Mexico City and Tokyo.

“We’ve got a number of markets already teed up,” Gino Blefari, CFO of HSF Affiliates, which includes Berkshire Hathaway HomeServices. “Eventually we’ll be in all the major metropolitan markets.”

Representatives for Berkshire Hathaway HomeServices said Brexit’s impact on the housing market in the U.K. didn’t deter it from partnering with a London-based company, which focuses on posh neighborhoods like Mayfair and Hyde Park.

Homeservices of America was the second largest brokerage in the U.S. in 2017, having sold $125.4 billion worth of real estate. It’s been on an acquisition tear, scooping up Long & Foster Cos. and Houlihan Lawrence in the last two years. [Bloomberg] — Kathryn Brenzel


Related Articles

arrow_forward_ios
RE/MAX CEO Adam Contos (Facebook)
RE/MAX revenue ticks up in Q4 but profit sinks
RE/MAX revenue ticks up in Q4 but profit sinks
(iStock/Illustration by Kevin Rebong for The Real Deal)
State will use undercover testers to combat housing discrimination
State will use undercover testers to combat housing discrimination
Zillow COO Jeremy Wacksman (Zillow, iStock)
Zillow using Zestimate to streamline cash offers for some homes
Zillow using Zestimate to streamline cash offers for some homes
Home sales were the busiest January on record, but still the fifth month of decline in a row. (iStock)
Pending home sales fall for fifth consecutive month
Pending home sales fall for fifth consecutive month
Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard
Making Lemonade: Don Lemon breaks even on Harlem condo sale
Making Lemonade: Don Lemon breaks even on Harlem condo sale
(IStock illustration by Kevin Rebong)
Smaller cities look to cash in on shift to remote work
Smaller cities look to cash in on shift to remote work
Douglas Elliman chairman Howard Lorber (Getty)
Douglas Elliman reports $14M profit, 50% revenue jump in quarter
Douglas Elliman reports $14M profit, 50% revenue jump in quarter
Glenn Kelman (Randy Stewart via Flickr)
Redfin revenue grows as it races to hire more agents
Redfin revenue grows as it races to hire more agents
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...