MADISON, N.J., March 29, 2022 /PRNewswire/ — Realogy Holdings Corp. (NYSE: RLGY), the top and most integrated service provider of U.S. household actual estate solutions, right now introduced the closing of the earlier declared sale of Title Assets Warranty Firm, Realogy’s title insurance underwriter, to an affiliate of Centerbridge Partners, L.P., a non-public expenditure management company. Realogy obtained $210 million in dollars and a 30% fairness interest in the newly shaped confined partnership joint enterprise that indirectly owns the Title Insurance plan Underwriter.
“As we continue on to reimagine and supply a extra built-in actual estate transaction, present day closing allows Realogy to be even far more targeted on our core business, which include important purchaser-experiencing transaction providers in franchise, brokerage, title settlement and escrow, and home finance loan,” mentioned Ryan Schneider, Realogy’s chief govt officer and president. “We look forward to operating with our joint undertaking companions to more thoroughly unleash the underwriter’s advancement probable as we continue on to commit in our strategic priorities and shift both of those Realogy and the industry to what is actually up coming.”
Realogy’s part of foreseeable future minority curiosity earnings from its 30% typical equity stake will be noted inside the company’s Realogy Title Team phase, which features the company’s title, escrow, and settlement companies company and house loan origination joint undertaking.
Realogy proceeds to individual and work its national scale title settlement and escrow providers that served brokers and individuals close 220,000 transactions in 2021. Realogy’s title and escrow expert services operate across 44 states beneath 45 unique manufacturer names and in 2021, represented the the vast majority of Operating EBITDA generated by the Realogy Title Group section, excluding the company’s share of fairness earnings from its house loan origination joint undertaking.
About Realogy Holdings Corp.
Realogy (NYSE: RLGY) is moving the authentic estate marketplace to what is actually next. As the top and most built-in provider of U.S. household real estate companies encompassing franchise, brokerage, relocation, and title and settlement firms as properly as a home loan joint enterprise, Realogy supported roughly 1.5 million house transactions in 2021. The company’s assorted brand name portfolio features some of the most recognized names in real estate: Improved Properties and Gardens® Actual Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Applying revolutionary technological innovation, info and advertising and marketing merchandise, high-high quality guide generation packages, and best-in-class learning and assistance products and services, Realogy fuels the productivity of its somewhere around 196,700 independent gross sales brokers in the U.S. and somewhere around 136,700 independent profits brokers in 118 other international locations and territories, aiding them build stronger corporations and best provide present day shoppers. Recognized for eleven consecutive years as one particular of the World’s Most Moral Providers, Realogy has also been selected a Great Put to Get the job done four many years in a row, named just one of LinkedIn’s 2021 Best Corporations in the U.S., and honored on the Forbes checklist of World’s Very best Employers 2021.
About Centerbridge Partners, L.P.
Centerbridge Partners, L.P. is a personal expense management organization employing a versatile method throughout financial investment disciplines — personal equity, non-public credit and true estate — in an energy to create the most interesting opportunities for our buyers. The Company was launched in 2005 and as of August 31, 2021, has close to $32 billion in money less than management with workplaces in New York and London. Centerbridge is committed to partnering with environment-course administration teams throughout targeted marketplace sectors and geographies. For much more info, be sure to stop by www.centerbridge.com.
Specific statements in this push release represent “ahead-searching statements.” These kinds of ahead-on the lookout statements entail recognized and mysterious threats, uncertainties and other things which may well trigger the actual success, effectiveness or achievements of Realogy Holdings Corp. to be materially distinctive from any potential benefits, performance or achievements expressed or implied by this kind of ahead-wanting statements. Any statements that refer to anticipations or other characterizations of future situations, instances or benefits are ahead-wanting statements.
Various components that could result in precise future benefits and other long term gatherings to vary materially from all those in the forward-seeking statements, incorporate, but are not confined to all those set forth less than the headings “Forward-Searching Statements” and “Danger Variables” in Realogy’s filings with the Securities and Trade Commission, including Realogy’s Annual Report on Variety 10-K for the yr finished December 31, 2021 and Realogy’s other filings produced from time to time, in connection with taking into consideration any ahead-on the lookout statements that may perhaps be built by Realogy and its companies frequently. Realogy undertakes no obligation to launch publicly any revisions to any forward-wanting statements, besides as required by legislation.
Resource Realogy Holdings Corp.