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
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Property buyers from the Middle East made up 16 percent of all sales to international investors (Getty)
Middle East investors returning to UK property market
Middle East investors returning to UK property market
Victor Oladipo joined the Miami Heat earlier this year. (Getty)
Miami Heat’s Victor Oladipo buys non-waterfront Miami Beach spec home for $8M
Miami Heat’s Victor Oladipo buys non-waterfront Miami Beach spec home for $8M
(iStock)
Canada’s surging housing market be peaking
Canada’s surging housing market be peaking
Abraham Edgardo Ortega is one of nine people charged in the laundering scheme. (Getty, Department of Justice)
Former Venezuelan oil exec sentenced in $1B money laundering scheme
Former Venezuelan oil exec sentenced in $1B money laundering scheme
Mark Zuckerberg and Priscilla Chan (Getty, iStock)
Mark Zuckerberg nearly doubles Hawaii real estate holdings
Mark Zuckerberg nearly doubles Hawaii real estate holdings
arrow_forward_ios

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

Loading...