C
ompass Inc. plans to acquire @properties and Christie's International Real Estate in a deal valued at $444 million. This move signifies the consolidation of big players in the real estate market as powerhouse brokerages merge nationally.

    Compass is expected to pay $150 million in cash and 44 million shares of its Class A common stock for the acquisition. The deal represents Compass' third and largest acquisition, following the addition of Parks Real Estate from Tennessee and Latter & Blum from Louisiana earlier this year.

    Christie's International Real Estate has a network of over 100 independently-owned affiliates across 50 countries and territories, while @properties is the 8th largest residential brokerage in the United States by sales volume. The acquisition will expand Compass' international presence and add high-margin businesses like Christie's and @properties' title company Proper Title.

    Compass founder Robert Reffkin stated that this partnership will empower independent brokerages worldwide and accelerate inventory strategy in key markets. However, it remains unclear how this deal will affect Texas, as only operations in Greater Chicago, Indiana, Michigan, Wisconsin, and Metro Atlanta were mentioned in the Compass press release.

    According to an investor presentation filed with the SEC, Christie's International Real Estate's Affiliate network will continue to operate independently after the acquisition. The core management team will also remain in place post-closing.

    The acquisition is part of Compass' three-pronged strategy: adding new high-margin businesses, expanding its total addressable market, and accelerating inventory strategy in key markets. This deal marks a significant international expansion for Compass as it gains access to Christie's network of affiliates across 50 countries and territories.