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Real Estate News

Peerage Realty Continues to Expand Sotheby’s Partnership with Latest Acquisition

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Earlier this spring, Peerage Realty Partners became the world’s largest strategic investor in the Sotheby’s International Realty brand when it gained a significant partnership interest with Pacific Sotheby’s International Realty of Southern California.

But they weren’t about to stop there.

Today, Peerage has announced its latest partnership with Premier Sotheby’s International Realty, a leading luxury residential real estate brokerage with approximately 1,300 sales professionals and 38 offices ranging from Florida’s Gulf Coast and interior to Western North Carolina.

In 2021, Premier sold a reported US$10.7 billion (C$13.7 billion) of residential real estate.

This latest partnership firmly positions Peerage Realty Partners as one of the 10 largest brokerages in North America, on pace for more than C$60 billion in projected sales in 2022.

Started nearly 40 years ago, Premier Sotheby’s International Realty’s has some 32 offices across Florida and another six in North Carolina. It was ranked 18th in the RealTrends Top 500 survey of U.S. brokerage companies.

READ: One Partner at a Time: Inside the Rise of Peerage Realty

The Lutgert family, founders of Premier Sotheby’s International Realty, and a major developer and contributor within the many communities it serves, will continue as partners with Peerage Realty Partners in the future growth and development of Premier Sotheby’s International Realty.

“We are privileged to partner with Budge Huskey, the management team, the advisors of Premier Sotheby’s International Realty, and the Lutgert family to build upon this spectacular firm,” said Miles Nadal, Founder and Executive Chairman of Peerage Realty.

“When we think of luxury residential real estate experiences, nothing exemplifies the underlying values and execution better than Premier Sotheby’s International Realty. It is my pleasure to welcome Budge Huskey, President, and CEO of Premier Sotheby’s International Realty to the executive leadership team of Peerage Realty as Vice-Chairman. His personal and professional track record over the last 38 years, will be a valuable addition to our organization. Budge is recognized as one of the great thought leaders in the luxury real estate services industry globally.”

Under the leadership of President and CEO Budge Huskey and his senior management team, Premier Sotheby’s International Realty has posted record-setting results. This includes 2021 sales volume of US$10.7 billion (C$13.7 billion). The firm’s average home sale price is US$936,000 (C$1.2 million).

The management team will continue to lead the company and will participate as partners in the ongoing growth and development of the firm. Huskey has an established reputation for building successful real estate companies, both organically and through acquisitions. He became President of Premier Sotheby’s International Realty in 2016, and President and CEO in 2020, transforming it into one of Florida’s leading luxury brokerages. From 2004 to 2016, Huskey had leadership positions of increasing responsibility culminating in his role as President and CEO of Coldwell Banker Real Estate LLC.

“I have followed the remarkable accomplishments of Peerage Realty for several years. I have come to know their management team and have the utmost respect and admiration for their accomplishments and their values,” says Huskey. “My management team and I feel energized by our growth prospects within this exciting new partnership, and I am particularly delighted to be part of the executive leadership team as Vice-Chairman of Peerage Realty.”

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