Sotheby's International Realty Brand Opens Offices in Costa Brava, Spain

PARSIPPANY, NJ and GIRONA, SPAIN --(Marketwire - February 28, 2011) - Sotheby's International Realty Affiliates LLC today announced it has further expanded its global real estate network across Spain with the addition of Costa Brava Sotheby's International Realty.

The firm is jointly owned by Markus Thoene and Christoph Toelle and serves Costa Brava, Spain, which includes the coastal region of Girona, located next to the province of Barcelona. The Sotheby's International Realty® network already has firms representing its brand in Madrid, Costa del Sol, Costa Blanca and the Balearic Islands of Mallorca and Menorca.

"The addition of Costa Brava Sotheby's International Realty reinforces the strength of our presence in Spain, one of the most important markets in Europe," said Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC. "We look forward to further growth in this market with Markus and Christoph and their team of professionals."

The area Costa Brava Sotheby's International Realty serves includes the beach locations of Lloret de Mar, Tossa de Mar, Playa de Aro, S'Agaro, Llafranc, Begur and the countryside around the medieval towns of Pals and Peratallada. For the last five years, Thoene and Toelle have run four luxury real estate offices located in Playa de Aro, Calella de Palafrugell, Begur and Pals.

"We have strong partnerships and client relationships at home and abroad, a professional infrastructure and a focus on highly-trained sales agents that speak multiple languages," said Thoene. "We have always been dedicated to serving the luxury segment of the Costa Brava real estate market and have plans to expand soon to Barcelona, one of the major European hotspots for luxury properties. The demand for high-end properties in the area of the Costa Brava and the city of Barcelona remain stable, however, the current economic climate also is generating attractive opportunities for cash buyers."

Toelle believes the affiliation with Sotheby's International Realty brand will enable the firm to continue to deliver the highest level of customer service while adding a global reach. "The Sotheby's International Realty network offers a worldwide strength that is especially powerful in France, the United Kingdom and Russia, which currently are the most important source markets for buyers of Costa Brava luxury properties," he said. "The Sotheby's International Realty brand is known throughout the world for its commitment to excellence in every phase of the real estate business. Our clients deserve the highest possible level of service and by taking this step we will be able to deliver such a service immediately."

The Sotheby's International Realty network currently has more than 11,700 sales associates located in approximately 550 offices in 44 countries and territories worldwide. Costa Brava Sotheby's International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs.

About Sotheby's International Realty Affiliates LLC

Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system by Realogy's subsidiary, Sotheby's International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.

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