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Toronto-based proptech firm and real estate investment platform RealServus has acquired London-based StreetCity Realty, a move aimed at expanding RealServus' reach in Ontario and supporting its national growth strategy.
Co-founded in 2016 by husband-and-wife team Costa Poulopoulos and Mary Johnson in partnership with Peerage Realty Partners, StreetCity is an independent brokerage with 170 agents across Ontario. Its agents serve the Golden Horseshoe and northern cities such as Thunder Bay and Sault Ste. Marie.
RealServus offers brands that provide residential real estate services to agents and consumers, such as Property.ca Realty Inc., Real Access Capital Ltd. and myAbode.
The financial terms of the acquisition were not disclosed.
“We are excited to welcome the StreetCity team into the RealServus family,” John Lusink, president of RealServus, said in a release. “Their commitment to agent-first values and long-term success aligns perfectly with our mission.”
A culture of support from StreetCity will be combined with a broader national network and innovative technology at RealServus, Poulopoulos said. “This is a natural evolution for our team and a win for the communities we serve.”
Poulopoulos, a Realtor since 1987, has been very active within the industry. He's held roles with several real estate organizations including president of the London-St. Thomas Association of REALTORS, president of the Ontario Real Estate Association and chair of the Canadian Real Estate Association.
RealServus' brands
RealServus is working toward building an agent-focused national brokerage platform by partnering with leading independent firms across Canada, the release states. The company can provide its partner brokerages with scale, infrastructure, growth capital and technology, it adds.
Toronto venture capital firm Round13 Capital is a major investor of RealServus.
Its other brands are:
- Right at Home Realty, a brokerage with a network of over 5,900 agents with presence in 12 regions across Ontario;
- Real Access Capital Ltd., a real estate commission advance company for agents;
- brokerage Property.ca Realty Inc. which owns the Property.ca, Condos.ca and MrLoft.ca. websites; and
- myAbode, a platform designed to streamline the real estate deals for agents, brokers and clients.
RealServus acquired Property.ca Realty and hundreds of its agents in 2022.
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