Compass has acquired Pacific Union International, becoming the largest independent real estate brokerage in California and the third-largest in the country.

Compass started out as a New York-based hybrid residential brokerage and tech startup. After receiving $450M from investor SoftBank in December, it has focused on its goal of reaching 20% of market share in 20 markets by 2020.

With the acquisition of Pacific Union, the company will grow to 6,400 real estate professionals representing $28B in sales volume for 2017. This latest acquisition comes on the heels of Compass acquiring Paragon Real Estate in July, forming San Francisco’s largest residential brokerage firm.

Pacific Union was originally founded in 1975 and was acquired by CEO Mark A. McLaughlin in 2009. Since then, the company has grown from $2.1B in sales volume to $14.1B in 2017.

Pacific Union has over 50 offices and about 1,700 real estate professionals in California. Pacific Union underwent a recent acquisition spree, acquiring Partners Trust in Los Angeles in 2017 and John Aaroe Group in 2016. It also recently launched a commercial real estate division in Los Angeles, where it will focus on traditional asset classes such as multifamily, retail, hospitality, office and industrial.

Compass has committed to opening in the top 20 cities in the U.S. and expanding to over 65 offices this year. In addition to San Francisco and Los Angeles, Compass has offices in New York City; Orange County; San Diego; Chicago; Boston; Atlanta; Seattle; Washington, D.C.; Dallas; Philadelphia; Aspen, Colorado; The Hamptons in New York; Miami; Westchester, New York; Greenwich, Connecticut; Naples, Florida; Santa Barbara; and Marin.

Source: https://www.bisnow.com/san-francisco/news/multifamily/compass-acquires-pacific-union-becoming-largest-residential-brokerage-in-california-92365

The real estate unicorn Compass, worth $2.2 billion, wants to connect front-lawn signage to the digital world.

The final prototype, in the shape of a magnifying glass, stands tall in a 10th-floor conference room at real estate startup Compass, emitting a gentle glow from the inner rim of its ringed frame. At first glance, the matte-black material and minimalist shape would appear destined for a patio, or inside a home. In fact, if it weren’t for the real estate agent contact information in the center of the glowing ring, it would be hard to call this a “for sale” sign. But that is exactly its purpose: to broadcast to buyers that a home is on the market, and, thanks to embedded technology, to give them access to a far ric...

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Japanese firm SoftBank is betting big on the white hot real estate tech company

Humongous breaking news this morning for Compass, the white-hot real estate tech company: it just received a $450 million investment from SoftBank Vision Fund, the collaborative tech investment vehicle started by Japanese company SoftBank and a host of big international players.

The $450 million investment in Compass marks the largest private real estate tech investment in U.S. history, according to Compass, and follows on the heels of a $100 million investment from other funders last month, which valued the company at $1.8 billion.

Collectively, Compass has raised $775 million in capital, money that will assist in its bid to expand across 10 new metropolitan ma...

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Compass takes a high-tech, high-touch approach, combining
the best agents, a top-tier creative studio, and unparalleled
reach and resources.

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The likes of Realogy, Compass and Redfin are all touting agent-centric models and tools. Now the footsoliders of real estate may finally be getting their due.

The race is on, and agents are becoming the clear winners. All the companies in real estate -- new tech brokerages, legacy franchises and indie brokers -- are all trying to cozy-up to the solo practitioner and their small teams. At Inman Connect last week, new Realogy CEO Ryan Schneider said his focus is on agents and building technology to support them. Schneider said that leveraging untapped real estate data and enhancing the agent experience across Realogy’s litany of brands will take center stage as the giant battles for market share against Keller Williams and a growing army of tech-enabled competitors The day before, Compass CEO Robert Reffkin made it clear that he is focused on the best agents and building technology to hel...

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Self-storage deal

With help from Maya Parthasarathy

TODAY IN REAL ESTATE — The Long Island City Partnership will host its annual legislative breakfast from 8 a.m. to 10 a.m. at 27-01 Queens Plaza North. Expected speakers include Lt. Gov. Kathy Hochul, State Sen. Michael Gianaris, Public Advocate Tish James, and City Councilman Jimmy Van Bramer. They will discuss the current legislative landscape and the partnership will appoint its board of directors for the coming year. More information here.

With help from Maya Parthasarathy

TODAY IN REAL ESTATE — The Long Island City Partnership will host its annual legislative breakfast from 8 a.m. to 10 a.m. at 27-01 Queens Plaza North. Expected speakers include Lt. Gov. Kathy Hochul, State Sen. Michael Gian...

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Compass continues to raise capital — this time from SoftBank Group.

Less than a month after the New York-based real estate technology startup received $100 million in series E funding from Fidelity Investments, Tokyo-based SoftBank infused the company with $450 million, plus another $50 million in secondary deals.

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Real estate tech firm Compass is the latest beneficiary.

Real estate tech company Compass is the latest beneficiary of SoftBank’s $100 billion Vision Fund, receiving $450 million Thursday from a funding round led by the tech fund.

Backed by tech giants including Apple, Qualcomm and Sharp, as well as by sovereign funds from Saudi Arabia and the United Arab Emirates, SoftBank’s Vision Fund has so far raised $98 billion, making it the largest technology investment fund ever. Its scale has reshaped Silicon Valley in 2017.

Other recent investments include funding rounds for Slack, Mapbox and Vir Biotechnology. SoftBank is likely to invest up to a whopping $10 billion in Uber, but that deal hasn’t gone through yet.

Here’s a running list of all the funding rounds the Vision Fund has participated in:

*SoftBank investments expected to be offered to the Vision Fund **Combined $4.4 billion from both SoftBank Group and SoftBank Vision Fund. Split not disclosed. Note: Since final deal values are not disclosed, value of funding rounds led by SoftBank is used instead. Source: SoftBank announcements and disclosures, news reports (Flipkart, Nvidia). OSIsoft not included since deal value is unkown.
As the lead investor, Vision Fund isn’t responsible for the entire amount of the funding round, but rather the largest portion. Some of the deals (OneWeb, SoFi, Improbable, Nauto) are expected to be offered to, but are not currently part of the Vision Fund. Final deal values have not been disclosed.

The Vision Fund hopes to raise a total of $100 billion that it will invest for up to five years after its final closing. Incredibly, SoftBank is also discussing raising money for another huge tech fund.

Real estate technology firm Compass says it's getting an investment of $450 million from the SoftBank Vision Fund.

The infusion from the $93 billion venture vehicle brings Compass' total capital raise to $775 million.

Softbank invests $450 million in real estate tech company Compass from CNBC.

Compass CEO: Betting big on real estate Softbank invests $450 million in real estate tech company Compass
9:08 AM ET Thu, 7 Dec 2017 | 02:53
Real estate technology firm Compass announced on Thursday it's getting an investment of $450 million from the SoftBank Vision Fund.

The infusion from the $93 billion venture vehicle — whose backers include the Japanese conglomerate SoftBank and Saudi Arabia's sovereign wealth fund — brings Compass' total...

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Happy Friday, Term Sheet readers.

Let’s wrap up the week with a quick overview of China’s investment outlook. I spoke with Hans Tung, a managing partner at GGV Capital. Tung has been a U.S.-China investor for more than a decade. His portfolio includes Xiamoi, Airbnb, Wish, and muscal.ly.

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Compass is a licensed real estate broker (01991628) in the State of California and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.