Compass’ The Sally Forster Jones Group, led by Sally Forster Jones, and Tomer and Isidora Fridman Group, led by Tomer Fridman and Isidora Fridman, are launching Jones Fridman International. Forster Jones and Fridman have sold more than $25 billion worth of real estate in the course of their careers.
Jones Fridman International officially launched earlier this month.
“Sally and I have been collaborating and co-listing for the last seven years,” Tomer Fridman said. “It was a seamless integration of our teams.”
“I’ve received a congratulations from one source who said it seemed like the two of you were married and now you’ve just made it legal,” Forster Jones joked.
No layoffs are taking place as a result of the two power brokers merging operations.
“Our professional staff are excellent,” Forster Jones said. “We are going to be utilizing all of them with what we are doing. We are growing. We are not looking to eliminate anyone.”
The group is based out of Beverly Hills and plans to establish 12 additional offices in the next year, with a focus on California and national markets.
In the next five years, the group plans to expand more abroad.
“It was the right time to be expanding and merging and starting a new entity that really is very much a local, national and international group focused on the luxury market and the luxury buyer,” Forster Jones said.
Fridman and Forster Jones said Jones Fridman International was looking for “synergistic markets” where people in L.A. want to own second homes and vice versa.
“We have over the course of these years immense amounts of agents or clients reach out to us and say ‘we are purchasing a home in NYC or Palm Beach, can you help us?’ What we are looking at is setting up a platform where instead of outsourcing they get an in-house experience,” Fridman said.
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Jeff Skoll, one of L.A.’s richest men, pulled the plug on his company, Participant Media, last week.
The studio is behind films like “Green Book,” “Moonlight” and “An Inconvenient Truth.” A skeleton staff will remain, but most of the company’s 100 staffers will be laid off, according to news reports.
Skoll was No. 19 on the Business Journal’s list of Wealthiest Angelenos last year with a net worth of roughly $4.4 billion.
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AEG has renewed its partnership with Yaamava’ Resort & Casino at San Manuel. The two have worked together for 16 years.
“You came at a very important time, and you helped us grow,” Dan Beckerman, chief executive of AEG, said at an event celebrating the partnership. The financial terms were not disclosed.
Under the new agreement, Yaamava continues its founding partner status at Crypto.com Arena, L.A. Live and Dignity Health Sports Park.
And while many entertainment companies like AEG were impacted by the pandemic, Beckerman said things have since bounced back.
“Coming out of the pandemic, it’s really made our offerings more relevant and attractive and it’s been really validating,” he said.
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The Insider is compiled by Interim Editor Hannah Welk. She can be reached at [email protected].
