The Real Deal Miami

Realogy reports $1.9B loss

February 26, 2009 05:30PM

Realogy Corp., parent company of the Corcoran Group, reported a $1.9 billion loss for 2008, but the company said they will receive financial assistance from private equity firm Apollo Management LP. Realogy CEO Richard Smith said the write-downs were related to the difference in the price paid by Apollo to acquire Realogy in 2007 and the current value of the company’s assets. The Real Deal’s February New York issue looked at how Realogy’s financial troubles are affecting Corcoran.