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@properties continues to expand: The real estate company will be going global with its plans to purchase Christie’s International Real Estate.
Christie’s says the agreement will allow @properties to further expand into global markets, and it will retain the Christie’s International Real Estate name. The move also allows @properties, which offers a proprietary suite of brokerage tech applications called pl@tform, to scale its technology on a global level.
Christie’s said in a press release that its existing global network of about 900 affiliate real estate offices will transfer to @properties while retaining the Christie branding. The acquisition is expected to close on Dec. 1.
“We chose to pursue this new direction for Christie’s International Real Estate for two strategic reasons—first, because @properties possesses the unique resources and capabilities to invest in expanding the Christie’s International Real Estate brand and its affiliate network both within the U.S. and on a global scale,” said Ben Gore, chief operating officer for Christie’s. “And second, because this will enable Christie’s to focus our resources on the core priorities of our business in the art and luxury goods market.”
@properties, based in Chicago and established in 2000, ranks 8th on the REAL Trends 500 list among largest residential brokerage firms in the U.S. ranked by sales volume. @properties and its affiliated companies, Ansley Real Estate and Nest Realty, have more than 4,000 agents in 75 offices in 13 states. @properties is also the owner of Proper Title, a title insurance firm, and Proper Rate, an independent mortgage lender.
Christie’s International Real Estate, a subsidiary of Christie’s--an art and luxury business--is a global luxury real estate company that has been in operation for more than 30 years. It has a presence in 48 countries and territories.