FOR IMMEDIATE RELEASE

Investment Expands National Real Estate Services Platform

DENVER and SALT LAKE CITY (December 14, 2021) –– Cairn Real Estate Holdings, LLC and its Chairman and CEO Rick Davidson announced today that it has partnered with Your Castle Real Estate, the largest independent real estate brokerage in the Front Range of Colorado, and Shorewood Real Estate. The investment adds 750+ agents in 5 offices across Colorado, closing $2.5 Billion of sales volume and 5,100 home sale transactions to Cairn’s real estate services portfolio.

“We are incredibly excited to partner with the Your Castle & Shorewood team!” Davidson said. “The agents and leadership align with our core values of integrity, service and productivity, and we are excited to leverage our market position to deliver resources to their growing base of professionals.” This partnership expands Cairn’s industry position to more than 4,300 real estate agents, 31,000 home sale transactions and $10Bn of transaction volume.

Davidson is a 30-year industry veteran who has served in multiple capacities including a 11-year run with Realogy in executive leadership roles, most recently as global chief executive officer of Century 21 Real Estate. Cairn Real Estate Holdings is a partnership between Davidson and private investment firm Aperion Management, focused on an integration strategy across the real estate services industry. Their aim is to deliver a nationally based seamless consumer experience in the home purchase and home sale process.

“We are thrilled about the partnership between Your Castle, Shorewood, and Cairn,” said Lon Welsh, Founder of Your Castle. “This transaction brings access to additional best practices and future technology. It will enable our agent team to stay on the leading edge of client service and market intelligence. Our agents and future clients are the big winners today.”

For more than two decades, Your Castle and Shorewood have been leaders in providing the highest quality of services to its agents and their customers.

“This transaction positions us to continue providing industry leading service and resources, and to continue our growth trajectory and leading market position in the Front Range,” Welsh said.

Over the past decade, technology has dramatically improved the real estate industry, providing transparency and a comprehensive suite of services for the consumer, along with resources to improve the real estate agent’s efficiency and service delivery. What has not changed is the critical role that the real estate agent plays in the home sale, home purchase process.

“According to NAR, the agent is at the center of 90% of consumer real estate transactions and our attention is focused on providing our agents the best platform, through the best brands in their local market,” Davidson said. “A key differentiating advantage of the Cairn platform is in our ability to serve agents across a multitude of brands and models. Our commitment is keenly focused on serving the agent and the consumer through local market companies who have consistently delivered the highest level of professional service, and who enjoy an outstanding reputation and market position.”

“We believe the best approach in today’s competitive marketplace is to create operating leverage through scale,” Davidson said. Cairn Real Estate Holdings, through our partnership with Aperion Management, is structured to quickly scale and deliver a comprehensive suite of services for agents and the consumer.”

About Cairn Real Estate Holdings:

Cairn Real Estate Holdings, LLC is a partnership between industry veteran Rick Davidson and private equity firm Aperion Management. The company is focused on an integration strategy across the real estate services industry. Their aim is to deliver a nationally based seamless consumer experience in the home purchase and home sale process. The Cairn model will enhance agent and consumer experiences through the delivery of a comprehensive ecosystem of real estate related services. www.cairnre.com

About Aperion Management:

Aperion Management, formed in 2006, is a private equity firm that seeks to invest in both equity and debt in middle market businesses valued between $15 million and $250 million with solid fundamentals and attractive growth prospects. Aperion seeks to partner with driven management teams to identify key business drivers and unlock opportunities for value creation and growth.

About Your Castle Real Estate:

Founded in 2004 by Lon Welsh, Your Castle Real Estate is ranked as the largest independent brokerage in Colorado and the 6th largest overall real estate company in the state, according to the Denver Business Journal. The company’s current network of agents exceeds 750+ in 5 offices. Your Castle has appeared in several publications. Including recent awards from The Denver Business Journal and Inc. 5000 as a finalist for the Fastest-Growing Private Companies regionally & nationally. The Your Castle team believes that having access to the best and most timely information can dramatically shape the real estate consumer’s decisions. No firm conducts a more comprehensive analysis of the local housing market than Your Castle Real Estate.

About Shorewood Real Estate:

Founded in 1969, Shorewood Real Estate has experienced steady growth over the past 50+ years. Acquired by the widely esteemed Lon Welsh of Your Castle Real Estate in 2017, Shorewood gained access to a tremendous team of managing brokers, data researchers, marketing professionals and more. This has elevated Shorewood Real Estate from an already premier position in the Colorado Springs market to a higher plateau of prestige and insight. We now proudly serve the entire Colorado Front Range, with offices in Denver, Colorado Springs, and Loveland.