City Weekly · Culture
A big merger in the real estate industry is turning heads as the housing market shifts.
Urban Living
Big news—Compass Real Estate has agreed to buy Anywhere Real Estate for $1.6 billion. This is the clearest sign yet that lackluster home sales are sparking industry consolidation. The all-stock transaction would create a new industry giant, valued around $10 billion (including debt), and would be one of the largest deals in residential brokerage history.
Anywhere owns Century 21, Coldwell Banker, The Corcoran Group and Sotheby's International. I haven't heard if these firms are consolidating under one company name, but I doubt it.
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