What was the gross property and equipment value for Corcoran in 2023?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
ments of Operations. During the second quarter of 2022, the Company sold a portion of its interest in the Title Insurance Underwriter Joint Venture, reducing its equity interest from 30% to 26% and resulting in a gain of $4 million. In 2023, the Company sold another portion, further reducing its equity interest from 26% to 25% and resulting in a gain of $1 million. I
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, the gross property and equipment for 2023 was $916. This figure represents the total value of Corcoran's physical assets, such as buildings, land, and equipment, before accounting for depreciation. Depreciation is the reduction in the value of an asset over time due to wear and tear or obsolescence.
Understanding the gross property and equipment value can be useful for prospective franchisees as it provides insight into the scale of Corcoran's investments in its infrastructure. A higher value may indicate a more established and well-resourced franchise system. However, it's also important to consider the accumulated depreciation, which reflects the age and condition of these assets.
In 2023, the accumulated depreciation was $669, which, when subtracted from the gross property and equipment, gives a net property and equipment value. Monitoring these figures over time can help potential franchisees assess Corcoran's capital expenditure strategy and the overall financial health of the company.