Robert Reffkin and Michael Karp (Compass, Linkedin, iStock)
Compass is expanding again in Florida, completing its acquisition of the majority of BEX Realty’s agents and offices in the state,
The Real Deal has learned.
The deal includes about 200 agents and offices in Fort Lauderdale, Port St. Lucie and Palm Beach Gardens, according to a spokesperson from Compass.
Michael Karp, CEO of Boca Raton-based BEX Realty, said BEX is keeping its Boca Raton headquarters and its lead generation business. The Compass acquisition included the majority of its Florida agents, as well as some members of management, he said. The deal closed earlier this week.
A department store that closed in West Palm Beach is being replaced by a luxury rental apartment complex, not another retailer.
The site of a former office building on the Intracoastal Waterway in Boca Raton is being transformed into a luxury condominium, where units cost millions of dollars each. And the owner of a Boynton Beach shopping center, where a large tenant shut down during the coronavirus pandemic, is working on a plan to turn part of the development into multi-family housing.
The nearly year-long coronavirus pandemic decimated the county s tourism and hospitality industries, but it hasn t hurt the county s dominant real estate industry.