By Tess Kalinowski Real Estate Reporter Thu., May 9, 2019 Peerage Realty, the company that owns Chestnut Park, has added Sotheby’s Realty Canada to its luxury real estate brands. The deal for Sotheby’s franchise rights, owned by Dundee Corp., and Peerage, is expected to close May 17, according to a press release. Peerage’s luxury brands include Christie’s and Chestnut Park Realty. It claims $112 billion (U.S.) in global sales with 990 offices in 72 countries. Sotheby’s has 32 offices in Canada and about $5 billion (Cdn.) in annual sales. Peerage executive vice-president Don Kottick will take over as president and CEO of Sotheby’s. He is a director or the Canadian Real Estate Association and a past director of the Toronto Real Estate Board. Article Continued Below Peerage Capital Group founder and executive chair Miles Nadal called the Sotheby’s brand “the most talked about, written about, impactful residential real estate brokerage network in the world.” Baker Real Estate, which specializes in condos and new developments in Ontario and Montreal; Fifth Avenue Real Estate in British Columbia and StreetCity Realty, which has a presence in some secondary Ontario markets such as London and Kingston, are also owned by Peerage. Tess Kalinowski is… Read full this story
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