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Two months after Chicago-based brokerage and franchiser @properties revealed it was acquiring Christie’s International Real Estate, the company is now embarking on a rebranding effort that will incorporate the Christie’s banner into its name.
The company announced the rebranding in a statement Wednesday, saying that @properties will now be known as “@properties Christie’s International Real Estate.” The new name will apply to 44 company-owned @properties offices in the greater Chicagoland area and surrounding region, which is @properties base and home turf. However, nothing will change immediate term for @properties franchises, which currently operate in Indiana, Michigan, Wisconsin and Texas, nor for Christie’s offices around the world.
Thad Wong, @properties co-founder and co-CEO, said in Wednesday’s statement that the @properties name was originally meant to position the brokerage as “a forward-thinking company” that was different from older firms. At the same time, the “Christie’s brand has come to symbolize the pinnacle of luxury brokerage,” Wong said.
“We’re proud that each of these important ideas is now represented in our brand,” he said.
Wong’s company first announced its Christie’s acquisition in November. The brokerage described the deal as a “long-term global brand license agreement,” and it involved the transfer of Christie’s approximately 900 global affiliate real estate offices, its corporate team members and all company-owned brokerage operations to @properties. The deal was unusual at the time because Christie’s, with a presence in 48 countries and territories, was much larger than @properties, which operates in 13 U.S. states.
The companies announced the deal just months after @properties hired a former Christie’s International Real Estate executive, Natalie Hamrick, to help build the company’s franchise business.
At the time of the acquisition, Wong indicated the deal was not part of an effort to phase out the Christie’s brand name. Wednesday’s news appears to bear that out, with the Christie’s name now taking up a prominent role in @properties outward-facing identity.
Correction: This post originally stated that the rebranding represents the launch of the Christie’s brand in Chicago. @properties has since corrected that information, telling Inman that Christie’s did previously have a presence in the region up until a few years ago.