Compass to Buy Christie’s International in $444 Million Deal

Photo: compass.com | Founder & CEO Robert Reffkin

According to Bloomberg, Compass Inc. has announced a landmark agreement to acquire Christie’s International Real Estate, along with other key businesses, in a deal valued at $444 million. This strategic move aims to expand Compass’s global footprint and reinforce its position as a leader in the real estate market.

The transaction will be financed with $150 million in cash and $294 million in Compass stock. Beyond Christie’s International Real Estate, the acquisition includes brokerage owner @properties, enhancing Compass’s ability to penetrate international markets effectively.

The Christie’s International Real Estate brand, which operates across 30 U.S. affiliates and 70 international locations—including Dubai and Hong Kong—will become the cornerstone of Compass’s new franchise operations. CEO Robert Reffkin emphasized the company’s strategy to grow globally without incurring the heavy costs of opening new brokerage offices. “We are entering the international market in a capital-light manner that doesn’t have the same capital intensity of opening our own brokerage office,” Reffkin explained during an investor call.

Compass, founded in 2012 by Robert Reffkin and Ori Allon, continues to pursue innovation and growth despite a challenging housing market marked by high prices and interest rates. This acquisition aligns with its ongoing efforts to expand through strategic partnerships. Earlier this year, Compass acquired Parks Real Estate in Tennessee and Latter & Blum in New Orleans.

As part of the transaction, Compass will acquire the title and mortgage businesses Proper Title and Proper Rate, with the deal expected to close in the first quarter.

The market reacted positively to the news, with Compass shares rising nearly 2% to $7.28 in premarket trading.

This acquisition signifies a major milestone for Compass as it strengthens its domestic and international presence, opening new doors for growth in a rapidly evolving real estate market.

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Source: bloomberg.com