Realogy
Apollo took Realogy private in a $12 billion leveraged buyout at the peak of the 2007 bubble. The housing crash left $7 billion of debt. Fifteen years later, while competitors invest in technology, Anywhere still pays interest on a mistake.
One company owns Coldwell Banker, Century 21, and Sotheby's International Realty. Most people have never heard of it. Reality, now anywhere real estate, is the largest residential franchise or by brand count, controlling roughly 16% of US home sale transactions. The problems traced to 2007, when Apollo Global Management took reality private in a $12 billion leveraged buyout at the peak of the housing bubble. When the market collapsed, reality held over $7 billion in debt. By 2024, still more than $3 billion in obligations. Revenue reached nearly $6 billion in 2021 during the pandemic boom, but dropped below five as rates rose.
Watch the full reel free on MoonReelz — moonreelz.com