Singapore media has reported that ERA Realty Network has been acquired by Indonesian private equity firm Northstar Group for more than S$100 million.
Singapore-based Hersing Corporation previously owned the franchise rights to the brand in 18 countries throughout the region, including in Malaysia, Thailand and Indonesia.
ERA is Singapore’s largest real estate agency with more than 5,100 real estate agents, according to data from the Council for Real Estate Agencies. It has more than 9,000 agents throughout the Asia Pacific region.
Sources revealed that final tweaks to the deal are being done, and will also include the Singapore franchise rights to real estate brand Coldwell Banker which is also owned by U.S. brokerage Realogy Holdings Corp.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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