Realogy Holdings Corp. and Sotheby's acquired a 80% stake in Concierge Auctions, LLC.
November 16, 2021
Share
Realogy Holdings Corp. (NYSE:RLGY) and Sotheby's acquired a 80% stake in Concierge Auctions, LLC on November 17, 2021. Under the terms of the agreement, Sotheby's and Realogy will take a joint 80% ownership stake in Concierge Auctions, while company co-founders Chad Roffers and Laura Brady will remain President and Chief Executive Officer, respectively. Concierge Auctions will operate independently, continuing to partner with real estate agents affiliated with many of the industry's leading brokerages to host luxury online auctions for clients. A newly formed Board of Managers will be made up of Sotheby's and Realogy executives and chaired by Philip White, CEO and President of Sotheby's International Realty, a Realogy brand. Stifel served as financial advisor to Concierge Auctions, and Locke Lord LLP served as legal advisor to Concierge Auctions and Sean Windsor of BDO USA Provided financial due diligence to Concierge Auctions, LLC in its sale.
Realogy Holdings Corp. (NYSE:RLGY) and Sotheby's completed the acquisition of a 80% stake in Concierge Auctions, LLC on November 17, 2021.
Anywhere Real Estate Inc. is an integrated residential real estate services provider. The Company's businesses include franchise, brokerage, relocation, and title and settlement, as well as minority owned mortgage and title insurance underwriter joint ventures. It operates through three segments: Anywhere Brands, Anywhere Advisors and Anywhere Integrated Services. Anywhere Brands segment franchises a portfolio of franchise brokerage brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Coldwell Banker Commercial, Corcoran, ERA and Sotheby's International Realty. This segment also includes its global relocation services operation and lead generation activities. Anywhere Advisors segment operates a full-service real estate brokerage business in many of the metropolitan areas in the United States. Anywhere Integrated Services segment provides full-service title, escrow and settlement services primarily in support of residential real estate transactions.