Compass picks up another title company

Acquisition of Denver’s First Alliance Title brings brokerage’s title business to eight states

National /
Sep.September 22, 2021 12:30 PM
Compass CEO Robert Reffkin and First Alliance Title co-founders Lon Welsh and Greg Parham (Compass, First Alliance)

Compass CEO Robert Reffkin and First Alliance Title co-founders Lon Welsh and Greg Parham (Compass, First Alliance)

UPDATED, 3 p.m., Sept. 22, 2021: Compass said it’s acquiring a Colorado title and escrow company, expanding its reach into eight states just one week after buying a firm in Texas.

The brokerage said on Wednesday that its purchase of First Alliance Title, which has three offices in Denver and a staff of 39, will close by the end of the year. Terms weren’t disclosed.

The company first entered the title and escrow business a year ago when it bought Seattle startup Modus and Washington, D.C.’s KVS Title. Compass said last week that it was buying Dallas-based LegacyTexas Title.

Compass CEO Robert Reffkin told analysts on an earnings call last month that the pace of acquisitions would probably slow in the second half of the 2021 and that costs associated with them will be reported in coming months. Reffkin and CFO Kristen Ankerbrandt spent a large portion of the call explaining how the company will become profitable and build new businesses that will be offered to agents and their clients through its “end-to-end” platform.

Thanks to the strong housing market, many brokerages are spending heavily to build out new and pre-existing lines of business.

Correction: This story has been updated to include that Compass’ title business operates in eight states.






    Related Articles

    arrow_forward_ios
    AIMCO founder Terry Considine and a rendering of the Grand Flamingo tower
    Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
    Miami Beach board rejects Aimco’s proposal for Grand Flamingo tower
    Aventura Mayor Enid Weisman (Facebook via Weisman, Getty)
    Aventura votes to require HOAs to submit critical reports within 48 hours
    Aventura votes to require HOAs to submit critical reports within 48 hours
    The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
    Miami Beach seeks buyers for city-owned development sites
    Miami Beach seeks buyers for city-owned development sites
    The partially collapsed 12-story Champlain Towers South condo building (Getty)
    Inside the tug-of-war over the Surfside condo site’s future
    Inside the tug-of-war over the Surfside condo site’s future
     Adam Neumann (Getty, Bal Harbour Florida)
    Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
    Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
    Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
    Miami penthouse sets cryptocurrency sale record: $22.5M
    Miami penthouse sets cryptocurrency sale record: $22.5M
    (iStock)
    South Florida resi construction starts soar in March
    South Florida resi construction starts soar in March
    Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
    Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
    Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
    arrow_forward_ios

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

    Loading...