Chicago-based @properties, a top indie brokerage in the United States, acquired a stake in the Virginia-based real estate company Nest Realty, the two firms confirmed to Inman Tuesday.

Thad Wong | Photo credit: @properties

The acquisition gives @properties a presence in five additional states, as well as a franchisor revenue stream. For Nest Realty, selling a stake to @properties gives the company’s franchisees access to @properties proprietary technology platform.

“I don’t think there’s another boutique brokerage firm in the country that delivers services to agents with the same quality, care and sophistication as Nest,” Thad Wong, the CEO and co-founder of @properties said in a statement. “With the addition of pl@tform and the marketing and training resources we provide, Nest agents and franchisees will have a significant competitive advantage over local independents and other national franchise brands.”

The companies declined to disclose the financials, but Jonathan Kauffmann, Nest Realty’s co-founder and partners, Keith Davis and Jim Duncan, will retain an ownership stake and Nest and continue to oversee day-to-day operations of the real estate firm, which has 15 offices in five states on both the owned-brokerage and franchise side.

Jonathan Kauffmann | Photo credit: Nest Realty

Nest will retain its brand identity in all markets and continue to expand under the Nest brand with additional company-owned or franchise locations. Currently, the Virginia-based company has a brand presence in Virginia, North Carolina, Georgia, Tennessee and Kentucky and its 350 agents did nearly $1.4 billion in sales in 2019.

“As we started to take a serious look at this opportunity, we asked ourselves: Could we bring more value to our agents, our clients, our franchisees and our staff through a partnership with @properties?” Kauffmann said, in a statement. “On every account, the answer was unequivocally yes.”

“Not only does this partnership move our tech development up 3 to 5 years, it also gives us opportunities to grow while maintaining the ‘Nester’ culture we’ve worked so hard to build.”

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