SOTHEBY’S CANADA REAL ESTATE = PRIVATE = buyout? to PEERAGE REALTY PARTNERS – THE POWER OF HUMAN CAPITAL – MAY 11 2019

I HAVE been RESEARCHING all kinds of things for years and high end REAL ESTATE is one of them. Sotheby’s is like for the newly rich but CHRISTIE’S REAL ESTATE is one of a few places that the BILLIONAIRES flock to for their extra homes etc. Sometimes you can find a nice home from under 500k and up to a few million at SOTHEBY’S after that – most MEGA RICH BILLIONAIRES just love CHRISTIE’S as only THE MEGA-BUCKS can afford them.

https://www.christiesrealestate.com/eng

SEE SOMETHING = SAY SOMETHING = FOLLOW THE MONEY !

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Luxury real estate brand Sotheby’s International Realty Canada (SIRC) has been sold by a subsidiary of Dundee Corporation to Toronto-based Peerage Realty Partners Inc., expanding the stable of …
Luxury real estate brand Sotheby’s International Realty Canada has been sold by a subsidiary of Dundee Corporation to Toronto-based Peerage Realty Partners Inc. Sotheby’s will be run independently, …
Home News Peerage Realty Partners acquires Sotheby’s International Realty Canada

Peerage Realty Partners acquires Sotheby’s International Realty Canada

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By Mario Toneguzzi

Luxury real estate brand Sotheby’s International Realty Canada has been sold by a subsidiary of Dundee Corporation to Toronto-based Peerage Realty Partners Inc.

No financial details were disclosed and the deal is scheduled to close May 17.

Luxury real estate brand Sotheby’s International Realty Canada (SIRC) has been sold by a subsidiary of Dundee Corp. to Toronto-based Peerage Realty Partners Inc., expanding the stable of high-end brands the company controls. No financial details were disclosed, but the deal is set to close May 17.

“It’s been on the wish-list for a very long time, we’re looking for non-replicable companies and there are only so many,” said Gavin Swartzman, CEO of Peerage Realty Partners.

Since 2007, Peerage has been collecting and expanding luxury real estate brands, and has amassed more than 1,840 sales representatives in 72 offices in North America, and claims it is transacting close to $13-billion in sales.

The deal will affect SIRC’s 540 realtors in 32 offices across the country (transacting an estimated $5-billion in annual sales), who will be given the opportunity to stay with the brokerage. SIRC is the sole franchise in Canada for the venerable auction house’s international realty brand, which has 990 offices in 72 countries around the world.

Dundee Corp. acquired the Sotheby’s franchise in 2012 through a subsidiary under the direction of Dundee founder Ned Goodman, who has since retired. At the time, the company hoped to expand the team of 300 agents to 1,500 agents.

“We know the people at Dundee quite well, they have been divesting a number of non-core businesses – in our asset management division we acquired two companies from them – and that put us in a position to have a dialogue that ultimately culminated in this deal,” said Mr. Swartzman.

Like the rest of Peerage’s brands, the Sotheby’s franchise will be run independently, but in this case it will get a new CEO in Peerage executive Don Kottick, an industry veteran who was previously been a director at the Canadian Real Estate Association, president of the Real Estate Institute of Canada and a director of the Toronto Real Estate Board.

“This is the most coveted and highest profile and most-talked-about real estate brand in the world,” said Mr. Kottick. “We believe there’s a lot of untapped potential for growth here, we’ll be looking to add new products and services and ways to conduct business more efficiently.”

In January, Peerage acquired Denver-based boutique brokerage Madison & Cos. Properties LLC, part of a buying spree the company has planned in the United States for which it has allocated $250-million.

Peerage Realty was formed in 2007 by private equity firm Peerage Capital; the first brands it acquired were luxury-focused Chestnut Park Real Estate Ltd. and condo pre-sales specialists Baker Real Estate Inc. In 2016 it added British Columbia’s Fifth Avenue Real Estate Marketing Ltd. and in 2017 added midmarket brand StreetCity Realty Inc.

Peerage Capital’s executive chairman is Miles Nadal, who was also the founder and former CEO of advertising firm MDC Partners Inc., from which he resigned in 2015. In 2016, he paid a US $1.5-million fine relating to compensation and expenses at MDC as part of a settlement with the U.S. Securities and Exchange Commission. In 2018, the Ontario Securities Commission barred the financier from serving as a director or officer of any Ontario public company until May, 2022.

https://www.theglobeandmail.com/real-estate/article-peerage-capital-buys-sothebys-international-realty-canada/

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Don Kottick
Don Kottick

Sotheby’s will be run independently, but Peerage executive Don Kottick will become its new president and CEO.

Kottick is an industry veteran who has previously been a director at CREA, president of the Real Estate Institute of Canada and a director of the Toronto Real Estate Board.

Sotheby’s 540 Realtors in 32 offices across the country – transacting an estimated $5 billion in annual sales – will be given the opportunity to stay with the brokerage, said Kottick, who will replace Brad Henderson as Sotheby’s top executive. Henderson is moving on from the company.

We have always loved the Sotheby’s brand. It’s a brand that we’ve always coveted. It’s probably the most sought-after brand anywhere in the world and I think it’s because of its rich heritage. The fact that it is truly international . . . The brand is recognized. It’s one of the most talked about brands, especially in real estate,” says Kottick.

“We have been watching the organization. When we got wind that the Dundee Corporation was looking to change their strategy, we immediately opened up negotiations with them and went after them because we just love the brand. We love the professionalism of the agents in their network. I’ve personally worked with a number of the managers that work within the organization and they’ve got a very strong management team. By all kinds of indicators, it was the perfect alignment with where we are going strategically.”

Sotheby’s is the sole franchise in Canada for the auction house’s international realty brand, which has 990 offices in 72 countries around the world.

“We see a lot of opportunity for growth. In the next five years, we plan on doubling the volume of business that is generated through the company. There are definitely avenues for growth,” Kottick says.

“Just through basically looking at new markets. Probably attracting other top quality performers to the organization and looking at internal means to help our agents grow their business. And I should also mention looking at new avenues, whether it’s pre-construction or different avenues to generate revenue within the organization.

In a news release, Gavin Swartzman, CEO of Peerage Realty Partners, said Sotheby’s has been on the company’s wish-list for a very long time.

“The addition of an international luxury brand has been a key part of our growth strategy for many years. The addition of Sotheby’s International Realty Canada to the Peerage family will be an important strategic milestone for us. We continue to fulfill our mission to be the preeminent luxury real estate brokerage organization, partnering with the best people in our industry, together with iconic luxury brands, in the resale and pre-construction sales markets,” said Swartzman.

In January, Peerage acquired Denver-based boutique brokerage Madison & Companies Properties, part of a buying spree the company has planned in the U.S., for which it has allocated $250-million.

Peerage Realty was formed in 2007 by Private Equity Firm Peerage Capital; the first brands it acquired were luxury-focused Chestnut Park Realty and condo pre-sales specialists Baker Real Estate in Toronto. In 2016 it added British Columbia’s Fifth Avenue Real Estate and in 2017 added mid-market brand StreetCity Realty.

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PROBLEM: VAULTRA STORAGE must be ILLUMINATI !

Let’s just say they like to hike-up my LATE FEES 50 dollars a month.

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DID YOU CATCH this SENTENCE above ?

Peerage Capital’s executive chairman is Miles Nadal, who was also the founder and former CEO of advertising firm MDC Partners Inc., from which he resigned in 2015. In 2016, he paid a US $1.5-million fine relating to compensation and expenses at MDC as part of a settlement with the U.S. Securities and Exchange Commission. In 2018, the Ontario Securities Commission barred the financier from serving as a director or officer of any Ontario public company until May, 2022.

now did you catch this info above too ?

Peerage Realty was formed in 2007 by Private Equity Firm Peerage Capital; the first brands it acquired were luxury-focused Chestnut Park Realty and condo pre-sales specialists Baker Real Estate in Toronto. In 2016 it added British Columbia’s Fifth Avenue Real Estate and in 2017 added mid-market brand StreetCity Realty.

MILES S. NADAL

Miles Spencer Nadal is an international entrepreneur and philanthropist known for his innovative partnership model. Miles has applied his natural, innate spirit of entrepreneurship into the guiding principle…

TREVOR MAUNDER
Trevor currently serves as the President and Chief Executive Officer at Peerage Capital. Trevor’s reputation amongst colleagues and partners is built on the deep respect they have…
GAVIN SWARTZMAN
Those who know Gavin are not surprised to learn that in 1988 he was the Valedictorian of the Master of Accounting Program at the University of Waterloo. His genuinely affable and strong leadership…
WALTER CAMPBELL
Since 2007, Walter has served as a Senior Partner and the Chief Financial Officer at Peerage Capital, where he is responsible for managing the risks of the company, business strategy, financial planning and all…
MIKE KILLEEN
Mike joined Peerage Capital in January 2016 as a Senior Partner and General Counsel with a mandate to oversee all legal, regulatory, and compliance matters affecting business operations within the Peerage family. Mike graduated from Western…
SANDY MACKAY
Sandy joined Peerage Capital in June 2018 as Vice President, Corporate Development.  His role at Peerage Capital is to assist with the investment decision-making process, transaction execution, and other financial…
NATHAN BEXRUD
Nathan has been the Corporate Controller at Peerage Capital and Artemis since 2015. As the controller, Nathan guides financial decisions by establishing monitoring, and enforcing policies and procedures…
LISA CONRAD
Lisa is a long-serving member of the Peerage family, who is well-known for her commitment to Artemis and her clients through her reliability and dedication to her work and her colleagues. Before…

DENNIS HAU
Dennis finds the most satisfying part of being a Corporate Development Analyst at Peerage is the breadth and depth of knowledge he is exposed to through daily interactions with his colleagues and the…

SARAH CARTER
Sarah is the Creative Director at Peerage Capital. Prior to this role, she was the Digital & Creative Manager at Chestnut Park Real Estate Limited, Brokerage; a Peerage partner company…

Sarah is the Creative Director at Peerage Capital. Prior to this role, she was the Digital & Creative Manager at Chestnut Park Real Estate Limited, Brokerage; a Peerage partner company. At Chestnut Park she provided Creative Direction for all digital and print collateral as well as providing individual marketing consultations and digital marketing courses to agents across Ontario.

Sarah has over a decade of experience in the marketing industry. She ran her own business for seven years, providing branding and identity, graphic design, web design, digital and coaching to a variety of clients including TD Bank, YouTube Kids and William F. White International. She also founded a wedding stationary and greeting card line that was sold online and carried in shops across Canada.

Sarah has a keen eye for identifying exciting marketing opportunities that will help increase brand recognition and drive recruitment and sales for Peerage Capital’s partner companies.

HIGHLIGHTS

  • Creative Director at Peerage Capital
  • Launched a successful greeting card line that was carried in shops across Canada
  • Attended the Fine Arts program at Queens University and still paints in her spare time
  • An avid skier with a particular passion for west coast terrain and knee-deep powder
  • Sarah’s favourite piece of advice regarding creative work; you are only as good as your worst piece. Don’t release anything you aren’t proud of.

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PEERAGE PARTNERSHIP TIMELINE

CHESTNUT PARK

Real ESTATE, BROKERAGE

August 2007

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BAKER Real Estate Corporation

MAY 2008

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ARTEMIS

2008

 

 

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VESTCAP

INVESTMENT MANAGEMENT Inc

JANUARY 2011

 

 

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SOMERSET

DECEMBER 2011

 

 

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CITADEL

JANUARY 2013

 

 

 

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ARS INVESTMENT PARTNERS

JANUARY 2015

 

 

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FIFTH AVE

FEBRUARY 2016

 

 

 

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ECHELON

WEALTH PARTNERS

MARCH 2016

 

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VAULTRA

SELF – STORAGE

MAY 2016

 

 

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PEERAGE STORAGE

APRIL 2016

 

 

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STREETCITY

REALTY

MAY 2016

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FROBISHER BAY

TOUCHDOWN SERVICES

AUGUST 2016

 

 

List of Owners: 

Name: 

Erik Leuthoud

https://www.nunavuteda.com/content/frobisher-bay-touchdown-services

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TROLLYBUS

URBAN DEVELOPMENT

FALL 2016

 

The Team

https://www.peeragecapital.com/the-team/

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