Real estate brokerage @properties has announced plans to acquire Christie’s International Real Estate, according to Inman.
With a global brand license agreement expected to close on Dec. 1, the new company will retain the Christie’s International Real Estate name, coupled with @properties’ technology and marketing platforms.
Currently, Christie’s International Real Estate has 900 offices in 48 countries and territories, where as @properties is located in just 13 states across the U.S.
“We chose to pursue this new direction for Christie’s International Real Estate for two strategic reasons,” Ben Gore, Christie’s COO, said in a statement. “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; 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.”