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ompass has agreed to acquire @properties and Christie's International Real Estate for $444 million, marking its largest acquisition yet. The deal includes title and mortgage businesses and is expected to close next year. In exchange for the assets, Compass will pay $150 million in cash and 44 million shares of its Class A common stock.

    The acquisition marks a significant expansion for Compass, which currently operates solely within the United States. @properties, founded by Thad Wong and Mike Golden in 2000, has grown to become one of the top 10 brokerages in the country by sales volume. The company acquired Christie's International Real Estate in 2021 to boost its luxury sales.

    Wong and Golden will remain as co-CEOs, overseeing day-to-day operations while continuing to operate as separate companies under Compass' umbrella. The combined business is expected to generate $500 million in revenue within the first year, with $49 million in adjusted EBITDA.

    Compass has grown rapidly this year, adding nearly 3,000 principal agents through acquisitions and organic growth. Its stock price has more than doubled since the start of 2024, reaching $7.33 in after-hours trading at the time of publication. The company plans to use its revolving credit facility to fund the acquisition and pay down debt immediately following the deal's closure.

    The acquisition is Compass' third major purchase this year, following deals with Parks Real Estate and Latter & Blum. With a strong pipeline of potential targets, Compass CEO Robert Reffkin has hinted at continued strategic acquisitions in the future.