360 VOX Corporation has acquired luxury real estate firm Sotheby’s International Realty Canada, Sotheby’s International Realty Quebec and Blueprint Global Marketing.
The company says it acquired all of the shares of Mt. Ventoux Holdings Inc., which owns Max Wright Real Estate Corporation and 75.5 per cent of Gestram Real Estate Services Inc., which do business as Sotheby’s International Realty Canada and Sotheby’s International Realty Quebec, under direct franchise agreements with Realogy Group. 360 VOX says it will retain the relationship with Realogy.
In addition to completing the acquisition of the 75.5 per cent interest in Gestram Real Estate Services Inc. from the sellers, 360 VOX agreed to terms and concurrently completed the acquisition for cash consideration of the remaining 24.5 per cent interest not owned by the sellers.
As a result of these transactions, 360 VOX now owns 100 per cent of Sotheby’s International Realty Canada, Sotheby’s International Realty Quebec and Blueprint Global Marketing, which markets real estate internationally, working with the Sotheby’s International Realty network to assist in the listing and selling of international developments.
The company says, “Pursuant to the terms of the Share Purchase Agreement, the sellers will receive as consideration up to $3,650,000 in cash and 54.25 million common shares of 360 VOX (or approximately 27 per cent of the issued and outstanding common shares of 360 VOX prior to giving effect to the transaction).”
360 VOX will enter into employment and non-competition agreements with Ross McCredie, the founder, president and CEO for the group of businesses. He will become chief operating officer of 360 VOX and is to be appointed to the board of directors of the company.
360 VOX is a publicly traded company in the business of managing and developing international hotel, resort, residential and commercial real estate projects through its wholly owned subsidiaries, 360 VOX Asset Management Inc., 360 VOX Development Inc., and in Cuba through its wholly owned subsidiary, Wilton Properties Ltd., in joint venture with Grupo Hotelero Gran Caribe S.A.
Sotheby’s International Realty Canada launched in 2005 with six offices and currently has more than 20 offices across the country.
