TOWN FORMS STRATEGIC ALLIANCE WITH SPANISH BROKERAGE GILMAR PARTNERSHIP COMES A MONTH AFTER SIMILAR DEAL WITH LONDON-BASED FIRM CHESTERTONS
The Real Deal, June 12, 2017
By Katherine Clarke
Town Residential TRData LogoTINY is making moves to further expand its global network with a new alliance with Gilmar Real Estate, a Spanish brokerage that operates out of 25 offices in Madrid, Seville, Cadiz and the Costa del Sol.
The partnership follows another alliance made last month with Chestertons, a London-based real estate brokerage with connections to the Middle East market.
Town’s efforts are part of a larger push by New York brokerages to score business through strategic partnerships with foreign firms. Companies such as Douglas Elliman and the Corcoran Group already have relationships with Knight Frank Residential and Monaco-based John Taylor, respectively. Town also has a partnership with Fortune International Group in Miami.
Some firms are also looking locally for an edge. Warburg Realty recently struck up a deal with property management firm Wallack Management, whereby the company will be a dedicated sales resources for owners across Wallack’s portfolio, which includes 75 Manhattan properties.
Gilmar was established in 1983 and deals in sales, rentals, new construction and investment.
Last week, The Real Deal reported that British auction house Christie’s ended its 20-year alliance with Brown Harris Stevens, and plans to open a luxury-focused brokerage in Manhattan.