Residential brokerage Compass acquires Pasadena-based firm Deasy Penner Podley
New York City residential real estate brokerage Compass Inc. has acquired Deasy Penner Podley (DPP), a boutique residential real estate and architecture firm in Pasadena, California.
DPP and its 175 agents will become part of Compass (NYSE: COMP), rebranding as DPP @ Compass. DPP founders George Penner and Mike Deasy will remain in leadership roles at the company while contributing to the growth of Compass’ architecture and design division.
The Pasadena firm closed $1.25 billion in multifamily and luxury and historic single-family transactions across Southern California last year, from Santa Monica to Palm Springs. Its multifamily properties across Greater Los Angeles include Windsor Row Townhomes in L.A., Monaco Terrace in Pasadena, Millard Creek in Altadena, Beverly Grove Homes in West L.A., Willoughby Lofts in West Hollywood and Hyperion 4 in Silver Lake, among others.
Founded in 2005, DPP has also marketed some of Southern California’s most architecturally and historically significant residences, including a $16.5 million home in Chatsworth designed by architect William Pereira, and a $4 million home in Los Feliz by architect Elmer Grey. The firm has eight offices in Southern California, including locations in Malibu, Palm Springs, Silver Lake and Santa Monica.
Through the acquisition, the addition of DPP will extend the reach of Compass’ referral network and marketing expertise, said Compass Regional Vice President Parker Beatty.
Compass’ recent moves point to the company’s pursuit of expansion opportunities across the U.S. Over the past year, Compass has expanded into Arizona with the acquisition of Launch Real Estate, a Scottsdale-based brokerage with 300 agents.
