Real Estate

Sitt likely to remain as partner in Town amid Agency merger

therealdeal.comThor Equities chief Joseph Sitt is likely to remain on as a partner at Town Residential amid its merger with Los Angeles-based brokerage the Agency, according to Town CEO Andrew Heiberger.

Heiberger said it’s likely that both he and Sitt will stay on as partners alongside Agency founders Billy Rose and Mauricio Umansky. The two parties are likely to complete a deal in the next few weeks, Heiberger said.

“As it’s panning out now, I expect that we will remain on as partners, based on the current status of negotiations,” he said, declining to comment on the exact stakes the respective partners will take.

Categories: Real Estate

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