Topic: How To Invest

Q: Pat, can I have a recommendation on Bridgemarq Real Estate Services? Thank you!

Article Excerpt

A: Bridgemarq Real Estate Services Inc., $13.62, symbol BRE on Toronto (Shares outstanding: 9.5 million; Market cap: $128.2 million; www.bridgemarq.com), is a leading provider of services to residential real estate brokers and a network of 20,529 real estate agents. The company operates in Canada under the Royal LePage, Via Capitale, and Johnston & Daniel brands. It has just over a quarter of the Canadian home resales market. In March 2024, Bridgemarq acquired several assets from Brookfield Business Partners, its largest shareholder, for $34 million. The assets included residential real estate brokerages, operating in key Canadian markets. Among them are 25 Royal LePage and Johnston & Daniel brokerages, and three Via Capitale brokerages. Propio Direct, a leading virtual brokerage based in Quebec, was also part of the deal. In addition, Bridgemarq acquired Bridgemarq Real Estate Services Manager Ltd., the Brookfield-owned management services company that has provided it with management services for the past 20 years. As part of the deal, Bridgemarq retains the employees…