This private equity shop wants to dominate resi brokerage in Canada

Terms of the acquisition were not disclosed

National /
May.May 19, 2019 10:00 AM
Peerage's Miles Nadal and the Vancouver Skyline

Peerage’s Miles Nadal and the Vancouver Skyline

A private equity firm with a taste for real estate just acquired the Canadian arm of Sotheby’s International Realty, which has 540 agents and 32 offices in Canada.

The new owner is Peerage Realty Partners, a subsidiary of private equity firm Peerage Capital.

“The addition of an international luxury brand has been a key part of our growth strategy for many years,” Gavin Swartzman, president and CEO of Peerage Realty, said in a statement.

Peerage acquired Sotheby’s International Realty to expand its collection of luxury real estate brands. Peerage currently has 72 realty offices with 1,840 sales representatives in North America and claims $9.6 billion in closed sales. Terms of the acquisition were not disclosed.

Other brokerage under Peerages’ control include Denver-based Madison & Cos., Chestnut Park Real Estate in Toronto, Baker Real Estate, Fifth Avenue Marketing and StreetCity Realty Inc.

Don Kottick, a Peerage executive, will serve as the new president and CEO of Sotheby’s International in Canada.

Kottick is a director of the Canadian Real Estate Association and previously has served as president of the Real Estate Institute of Canada and as a director of the Toronto Real Estate Board. [Inman] – Mike Seemuth


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Meyer Orbach with One and Two Sutton Place North (CityRealty)
Meyer Orbach, Josh Gotlib close on $850M of Solow apartments
Meyer Orbach, Josh Gotlib close on $850M of Solow apartments
56 Middagh Street and 50 Bridge Park Drive #20B (Streeteasy, Quay Tower BK, Getty)
Brooklyn Heights townhouse, Quay Tower score borough’s biggest contracts
Brooklyn Heights townhouse, Quay Tower score borough’s biggest contracts
From left: Wafra’s Fawaz Al-Mubaraki and The Westover Companies’ Guntram Weissenberger with 138 East 12th Street (JLL, Getty, Wafra, The Westover Companies)
Wafra sells East Village’s The Nathaniel for $57M
Wafra sells East Village’s The Nathaniel for $57M
15 East 90th Street and 325 West Broadway (Getty, CityRealty, Streeteasy)
Thanksgiving-week buyers gobble up 15 luxury Manhattan homes
Thanksgiving-week buyers gobble up 15 luxury Manhattan homes
Garden Communities' Brett Tanzman with 800 Sylvan Avenue (Loopnet, Getty, Rutgers)
Development underway on former Unilever hub in Englewood Cliffs
Development underway on former Unilever hub in Englewood Cliffs
arrow_forward_ios

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

Loading...