Compass has agreed to acquire Anywhere Real Estate for $1.6B in what will be one of the largest-ever real estate brokerage mergers.
:quality(75))
Anywhere, formerly called Realogy, owns Coldwell Banker, Corcoran and Sotheby’s International Realty. The deal values the company at $13.01 per share, or an 84% premium to its closing price on Sept. 19, when shares were trading at $7.07.
Each share of Anywhere would be exchanged for 1.436 shares of Compass Class A common stock in a deal that values the combined company at $10B, including debt, according to an announcement by Compass.
Anywhere’s stock jumped 56% in trading Monday morning, while Compass’ dropped 10%.
"I have deep respect for Anywhere's leadership, agents, employees, culture, and brands," Compass founder and CEO Robert Reffkin said in a statement. "By bringing together two of the best companies in our industry, while preserving the unique independence of Anywhere's leading brands, we now have the resources to build a place where real estate professionals can thrive for decades to come."
The deal will bring approximately 340,000 real estate professionals with roughly 1.2 million annual transactions globally onto one network.
Last year, Compass brokers executed on $231B in sales — making it the largest brokerage in the country. Anywhere was the second largest at nearly $184B, according to RealTrends data. Compass expects to add over $1B in revenue and save $225M in operating costs through the merger.
Compass secured $750M in financing from Morgan Stanley to fund the deal. It is estimated to close in the second half of 2026.
Upon closing, current Compass shareholders would own about 78% of the combined company, while Anywhere shareholders would get 22%.
Founded in 2012, Compass went public in 2021 but never reported a profit until the second quarter of last year.
That hasn’t stopped the company from expanding its reach. In December, the brokerage giant agreed to acquire @properties and Christie’s International Real Estate in a $444M deal.
Even so, the merger gives Compass control of less than a quarter of the country’s home-sales volume, The Wall Street Journal reported.
)
)
)
)
)
)
)
)
)
)
)
)