Two B.C. players in the national real estate scene are joining forces.
Vancouver-based McCredie Investments revealed Thursday it’s set to acquire real estate company Sutton Group Realty Services Ltd.
Terms of the deal were not disclosed.
Sutton Group, headquartered in Burnaby, has 200 offices across Canada supporting roughly 6,000 agents delivering an annual sales volume of more than $35 billion.
It’s now under the leadership of real estate entrepreneur Ross McCredie, principal of McCredie Investments.
He’s best known for founding luxury real estate firm Sotheby’s International Realty Canada, which has 900 real estate agents across 30 markets and delivered $25 billion in sales in its first decade.
He also founded wealth management platform RealWealth, which was sold to Voxtur Analytics Corp. (CSE: VXTR) in 2021 in a deal worth up to $4.2 million.
“Our intention is to build from the foundation of Sutton Group's legacy. By leveraging advanced technologies, we envision a future where innovation meets responsibility [and] where new technologies enrich the real estate experience, while ensuring unwavering dedication to meeting evolving needs and opportunities in the market,” said McCredie in a statement.