Toronto-based Peerage Realty Partners is partnering with Jameson Sotheby’s International Realty in Chicago.
Peerage, which owns Sotheby’s International Realty Canada, says the executive team of Jameson Sotheby’s will continue to lead the firm and hold a significant equity interest, partnering with Peerage in the future growth and development of the firm.
The firm generates US$2 billion in annual sales volume with 450 agents in six offices in Chicago’s Gold Coast and Lincoln Park neighbourhoods, and suburban offices in Evanston, Winnetka, Barrington and Hinsdale.
Upon completion of the partnership, Jameson Sotheby’s CEO Chris Feurer, will continue as CEO. “Peerage Realty was the ideal partner to enable us to continue our growth ambitions,” says Feurer. “We share a commitment to providing excellent service and support to clients in the Chicago market.”
Gavin Swartzman, president and CEO of Peerage Realty Partners, says, “This is another important strategic growth initiative for us. We continue to fulfil our mission to be the preeminent luxury residential 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.” The company says more U.S. acquisitions are in the works.
Sotheby’s International Realty Canada will continue to operate as a separate entity, says president and CEO Don Kottick.
Peerage Realty’s other partners include Madison & Company Properties, a luxury brokerage in Denver, Colo.; luxury brokerage Chestnut Park Real Estate in Toronto; Baker Real Estate, which focuses on new development and condominium sales and marketing in Ontario and Montreal; Fifth Avenue Real Estate Marketing in B.C.; and Ontario’s StreetCity Realty.