From the archives, including financial statements for @properties for the first nine months of 2024 and the whole of 2023, show that the company was profitable for a large part of its existence until the last quarterly report.
@Properties acquired Christie’s international real estate in 2021. In 2023, the company generated the net income of $ 8.2 million and in the first nine months of 2024 it achieved a net income of $ 20.7 million. Compass, on the other hand, registered net losses of $ 321 million and $ 114 million during these respective time frames.
In 2023 and the first three quarters of 2024, around 88% of @properties income came from the income of the income of their own pirectage. About 20% of the total income came from Christie’s international real estate Serenowho acquired it in 2022 and was sold back to his founders prior to the acquisition of Compass.
The strong commission income of @properties are impressive in view of the fact that the committee splits it to agents were 83.8% in 2024 and 84.2% in 2023.
Other insights into @properties’s financial data include a cash balance of $ 4.4 million at the beginning of 2025. The company had around $ 125 million in long -term debt on its books, including a balloon payment for the remaining balance. The Thad Wong and Mike Golden-Helden company decided this debt prior to the deal with Compass.
In addition to these insights in @properties, the registrations also offer some additional information about the financial data of Compass.
A Pro Forma statement showed that from September 2024 the combined companies had a cash balance of $ 110 million, compared to the cash balance of Compass of $ 211 million, indicating that the deal took a toll from the compass reserves.
The archives also show that Compass maintains a rotating credit facility of $ 350 million, from which the $ 50 million has withdrawn to partially finance the acquisition of @properties.
In recent weeks, Compass has taken the headlines about rumors to acquire HomeServices of America. The company did not respond publicly to these rumors, but home services has denied them.
