Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Real estate brokerage and franchise company Realogy Corp. reported a $797 million net loss in 2007 for the period since its April 10 acquisition by an affiliate of private equity firm Apollo Management LP. The company also reported a $44 million net loss for the period from Jan. 1, 2007, through April 9, 2007. That compares with net income of $365 million in 2006 and net income of $627 million in 2005. In a projection of the financial effects of the company's acquisition as if it had occurred on Jan. 1, Realogy said its net loss would have been $605 million for the full year.The company said a fourth-quarter review resulted in a non-cash impairment charge of $667 million that reduced the company's intangible assets by $550 million and reduced goodwill by $117 million. "The impair...