It was just last October that Briggs Freeman Sotheby’s International Realty announced that Peerage Realty Partners secured a substantial interest in the brokerage. The transaction with Peerage meant that Robbie Briggs, the founder and CEO of the brokerage, would no longer be the majority shareholder.
The purchase of such a huge part of Briggs Freeman Sotheby’s was hailed as a big move for Peerage, which already had interests in Sotheby’s International Realty Canada, Four Seasons Sotheby’s International Realty of Vermont and New Hampshire, and Jameson Sotheby’s International Realty of Chicago.
Today, Peerage can add Pacific Sotheby’s International Realty of Southern California to that mix.
The transaction, which is considered to be a “substantial interest” in the brokerage, will add 620 agents in 18 offices to the Peerage family.
“Peerage Realty’s quest is to be the preeminent luxury real estate services company globally,” said Miles Nadal, Founder and Executive Chair of Peerage Realty Partners. “Southern California is an ideal market to add to our growing portfolio. We look forward to further expanding across California, fully leveraging the Sotheby’s International Realty® brand and the expertise and reputation of Pacific Sotheby’s International Realty.”
Pacific Sotheby’s International Realty has offices in Carlsbad, Coronado, Dana Point, Encinitas, Huntington Beach, Laguna Beach, La Jolla, Newport Beach, Rancho Santa Fe (3), San Clemente (2), San Diego (4), and Solana Beach. Under the leadership of CEO Brian Arrington, President and COO Wendy Purvey, and the senior management team, Pacific Sotheby’s International Realty attained a 2021 sales volume of US$6.8 billion.
“For 11 years, Pacific Sotheby’s International Realty has been the preeminent luxury real estate firm in Southern California. Our average sales price is 45 percent higher than our nearest competitor – and we continue to dominate the high end of market,” said Brian Arrington, Founder and CEO of Pacific Sotheby’s International Realty. “With our exciting momentum, the time is perfect to infuse new resources and capital to help grow our agents’ business.”
