Cendant Purchases Sotheby's Real Estate Arm. Not surprisingly, it was a pretty expensive arm. According to the New York Times, Cendant expanded its considerable franchise holdings, which real estate franchised systems like Century 21 and ERA, by adding Sotheby's 15 real estate offices for $100 million. Cendant looks to expand the chain to be the first company to build a franchise brand in the luxury real estate market.
Posted by franchiselawblog at February 18, 2004 08:40 AM