Real estate · Industry brief

Compass completed its acquisition of Anywhere Real Estate in January 2026 and achieved its entire $300 million Year 1 net cost synergy target five months ahead of schedule, raising the target to $330 million. The integration is progressing well with the company's Brokerage GTV outperforming the market by 1,000 basis points in Q2 2026 compared to 580 basis points in Q1, driven by combined operations across major brands including @properties, Better Homes and Gardens, CENTURY 21, Christie's International Real Estate, Coldwell Banker, Corcoran, ERA, and Sotheby's International Realty. Compass reported Q2 2026 revenue of $4.3 billion (up 14% on a pro forma basis) and Adjusted EBITDA of $363 million, with the company raising its 2026 realized net cost synergy target to $220 million and maintaining its three-year $500 million net cost synergy target. The company is planning to redeem its $500 million 9.75% Notes in Q2 2027 with $694 million in cash on hand and positive free cash flow generation expected in the second half of 2026.

Jones Day hired Kevin Wakefield as of counsel in its Dallas real estate practice, effective August 4, 2026. Wakefield, who previously held a counsel position at Hunton Andrews Kurth, specializes in representing banks and institutional lenders in commercial real estate transactions, including commercial mortgage and mezzanine loans, as well as advising on acquisition, sale, development, and leasing of commercial real estate.