Toronto-based Peerage Realty Partners has acquired a strategic partnership interest in independent brokerage Madison & Company Properties of Denver.
The transaction marks Peerage’s first partnership in the United States, but the company says it “anticipates making several investments in 2019 and beyond.”
“Expanding our unique partnership model to the U.S real estate brokerage industry is a core part of our long-term strategy to partner with leading brands with strong, entrepreneurial founders and management teams in key markets across North America,” says Miles S. Nadal, founder and executive chairman of the Peerage Capital Group.
“While the industry is experiencing unprecedented change, our goal is to partner with firms who share our belief in the enduring value of attracting and retaining the best agents and providing them with state-of-the-art tools and resources… From our first meeting with Madison, we knew we had found a partner who shares this passion.”
Founded in 2008, Madison “is one of the leading boutique real estate firms in the Denver metropolitan area, servicing both the residential and commercial markets,” the company says. It has seven Denver-area locations and about 150 brokers and staff. The brokerage ranks second for production per agent in Denver, the company says.
Todd Narlinger, founder of Madison, will continue in his role as CEO and “retain a significant equity stake under the unique Peerage partnership model,” says the company.
“In Peerage, we found an ideal partner with the resources to continue our investments in enhancing our service platform for our agents, and to accelerate our ambitious expansion and growth plans, while preserving our operational independence and culture,” says Narlinger. “In addition, we also gain invaluable access and business support from Peerage and its network of successful partners. We were particularly impressed by the leading independent brands represented by Peerage’s existing partners, and their long-term track record of owner retention.”
Gavin Swartzman, president and CEO of Peerage Realty Partners, says, “Madison represents the perfect opportunity to initiate our U.S. expansion, given its exceptional management team, strong market position and abundance of growth opportunities. There is a solid cultural fit between our organizations.”
Peerage Realty Partners, a subsidiary of Peerage Capital, is also partnered with Chestnut Park Real Estate in Toronto; Baker Real Estate, the leader in new development and condominium sales and marketing in Ontario and Montreal; Fifth Avenue Real Estate Marketing in British Columbia; and StreetCity Realty, which has 10 offices in Ontario.