Macklowe’s comeback, casino chaos and the biggest deal in resi
Compass acquires Anywhere Real Estate, parent company of major brands, in a shocker deal worth $1.6 billion.
Real estate mogul Harry Macklowe has made a comeback with the acquisition of Anywhere Real Estate, parent company of major brands such as Corcoran, Sotheby's International Realty, Coldwell Banker, Century 21, and more. The all-stock merger, valued at $1.6 billion, gives Compass shareholders 78 percent ownership of the combined entity.
The transaction, expected to close in the second half of 2026, will create a company with an estimated enterprise value of $10 billion. This deal brings together the two largest brokerages in the country by transaction volume, according to RealTrends, solidifying Compass's dominance in the industry.
While this may be seen as a win for Compass, it has caused chaos in the casino world as MGM Resorts International, which owns a 50 percent stake in Anywhere Real Estate, has accused Macklowe of violating their agreement by not giving them a chance to match Compass's offer. MGM has filed a lawsuit against Macklowe, alleging he breached their agreement and caused significant financial harm to the company.
"MGM is disappointed that Mr. Macklowe has chosen to violate our agreement and cause significant harm to our company," said MGM CEO Bill Hornbuckle in a statement. "We will take all necessary actions to protect our interests and our shareholders."
Despite the controversy, the deal is expected to close and solidify Compass's position as the top brokerage in the country. However, many in the industry are questioning the potential conflicts of interest and lack of competition this deal presents.