Subject: CON
Peerage Realty Partners Acquires Substantial Partnership Interest in Briggs Freeman Sotheby's International Realty of North Texas, Growing its Portfolio of Sotheby's International Realty Affiliates
Briggs Freeman Sotheby's International Realty is a leading premium real estate brokerage in North Texas, including the Dallas and Fort Worth markets. This is the fourth Sotheby's International Realty franchise to partner with Peerage Realty Partners, joining Sotheby's International Realty Canada, Four Seasons Sotheby's International Realty of Vermont and New Hampshire, and Jameson Sotheby's International Realty of Chicago.
This new partnership further enhances Peerage Realty Partners' position as a leading player in premium North American residential real estate market, positioning it for ongoing growth and future partnership investments and empowers Briggs Freeman Sotheby's International Realty to further expand its reach within and beyond its existing key markets.
TORONTO, Oct. 14, 2021 /PRNewswire/ - Peerage Realty Partners Inc. ("Peerage Realty") announces a substantial partnership interest in Briggs Freeman Sotheby´s International Realty ("Briggs Freeman"), a leading premium real estate brokerage in North Texas, including the Dallas and Fort Worth markets. The firm specializes in the representation of significant properties, from historic and contemporary to waterfront, commercial, ranch, and land.
A long-established force in the North Texas luxury market, Briggs Freeman Sotheby's International Realy was founded as a boutique firm in 1960. For the past 30 years, it has been led by CEO Robbie Briggs, growing to six offices, 381 agents, and a projected US$2.9 billion (C$3.61 billion) in 2021 real estate sales. The firm provides a luxury service experience to clients through offices in Dallas, Fort Worth, Lakewood, Southlake, North/Plano, and Ranch and Land.
The partnership with Briggs Freeman Sotheby's International Realty is foundational for Peerage Realty, serving as a cornerstone for its ongoing North American expansion strategy in targeted real estate markets. It also reinforces its existing relationships with the iconic Sotheby's International Realty brand and reflects the objective of forging more such partnerships in the future.
Briggs Freeman Sotheby's International Realty will continue to be led by CEO Robbie Briggs, company president Russ Anderson, and the leadership team. The leaders will continue to play a role in the future growth and development of the firm.
"We are very excited about partnering with Briggs Freeman Sotheby's International Realty, adding another superb Sotheby's International Realty firm to the Peerage Realty family of companies," said Gavin Swartzman, CEO of Peerage Realty. "The calibre of the team ? assembled and led by Robbie and Russ ? is truly exceptional and reflects their long-term commitment to be the best in their business. And for Peerage Realty, the quality and deep experience of partners like them, are the ultimate consideration."
Robbie Briggs said: "Our values and those of Peerage Realty are fully aligned. With a shared focus on providing a luxury service experience to all clients, we will be able to further reinforce our presence in existing markets and build our business in new markets at home and internationally."
He added: "Our confidence is amplified by the fact that Sotheby's International Realty and Peerage Realty already have a long-standing, successful relationship and brand reputation in Canada and the U.S."
President Russ Anderson noted: "By partnering with Peerage, we gain access to a powerful support network and the resources to fully optimize our potential. We deeply value the opportunity that presents."
Presently, Peerage Realty is in partnership with Sotheby's International Realty Canada ("SIRC"), Canada's largest luxury real estate brokerage with 30 offices and 690 agents in Ontario, Quebec, British Columbia and Alberta; Four Seasons Sotheby's International Realty with 15 offices and 200 agents in the luxury market in Vermont and New Hampshire; and Jameson Sotheby's International Realty ("Jameson"), a dominant player in the luxury residential and commercial real estate markets with six offices and 460 agents in the Greater Chicago Area.
ABOUT BRIGGS FREEMAN
Briggs Freeman Sotheby's International Realty is the leading luxury brokerage in North Texas. Founded in 1960, today its nearly 400 agents serve clients across the region, based in offices in Dallas, Fort Worth, Southlake, Lakewood, The North (based in Plano), as well as one exclusively for Ranch and Land.
The brokerage has achieved multiple consecutive years of multibillion-dollar total sales volume and has the highest average home sales price in all of Texas. In 2020, its award-winning agents achieved a total sales volume of $2.45 billion, an exceptional figure.
Operated by CEO Robbie Briggs and company president Russ Anderson, the brokerage specializes in the representation of luxury homes, high-rises, ranches, land and commercial properties. The company's connections, reach and resources ? as part of the $150 billion Sotheby's International Realty network of 24,000 agents in 1,000 offices in 74 countries and territories ? bring the exceptional to every client and agent. Its briggsfreeman.com is a cutting-edge portal featuring properties, neighborhoods, schools, virtual tours, architecture guides, market data and more.
ABOUT PEERAGE REALTY PARTNERS
Peerage Realty Partners is a leading residential real estate services firm, serving luxury markets across North America.
Peerage Realty brokerage partners include leading Sotheby's International Realty franchisees, Christie's International Real Estate, and renowned independent firms in both re-sale residential real estate brokerage, and new construction marketing.
Peerage Realty core service activities include real estate financing, transaction services, asset management, and home improvement for purpose-built rental properties.
Peerage Realty has the unique benefit of being a privately-owned enterprise that is positioned to commit to long-term partnerships and investments.
Prior to the partnership with Briggs Freeman Sotheby's International Realty, Peerage Realty is projected to sell over US$26 billion (C$33 billion) in 2021 through its partner firms. It has over 5,000 best-in-class sales representatives and 143 offices in Canada and the United States.
To support growth and expansion among partners, Peerage Realty consistently provides strategic input, capital, technology, operational expertise, marketing, communications, and value-added products and services that differentiate and strengthen its partner firms in competitive markets. Its goal is to expand the suite of services that its partner firms can offer to enhance the client experience through all phases of a real estate transaction and beyond.
ABOUT PEERAGE CAPITAL
Peerage Capital is a leading North American business services and private investment firm. Peerage Capital is focused on partnering with exceptional, entrepreneurial management teams to form long-term investments across several strategic business services platforms including real estate services, real estate development and management, land assembly, self-storage, asset management and wealth advisory services.
A growing network of partner companies employs over 5,000 people across Canada and the United States with approximately US$7.87 billion (C$10.3 billion) in total assets under management (AUM) and administration.
Peerage Capital focuses on service sectors where there are opportunities to achieve scale through both organic growth as well as through acquisition, operating synergies, and brand differentiation.
It supports the partner firms in which it invests by providing capital as well as a team of experienced professionals who add value in such areas as strategy, finance, technology, marketing, mergers and acquisitions, and communications.
Peerage Capital believes that superior talent is the ultimate driver of long-term growth and success. It operates with a strong culture of partnership, collaboration and alignment of interests, both economic and cultural. Peerage Capital's unique "Professional Partnership" model has been refined over 40 years to accelerate growth through value-added services that enhance the sustainable, profitable growth rate of the organization, maximizing value for all stakeholders.
ABOUT SOTHEBY'S INTERNATIONAL REALTY
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans nearly 1,000 offices located in 75 countries and territories worldwide, including 45 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Realogy entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744.
The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.
SOURCE Peerage Realty Partners Inc.
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