Brookfield is a leading provider of real estate and relocation services. Real Living’s parent company, Brookfield Residential Property Services, a division of Brookfield Asset Management Inc., is a leading global provider of real estate and relocation services, technology and knowledge. Brookfield is the #3 player in the North American residential real estate market with over 2,800 real estate brokerage locations, and more than $150 billion in annual residential real estate transactions. By combining Prudential Relocation Services with Brookfield Global Relocation Services, Brookfield is the #2 player in global relocation, managing close to 85,000 relocations per year in over 125 countries. Headquartered in Toronto, with offices in Canada, the United States, the UK, Shanghai, Australia, India and Singapore, Brookfield Residential Property Services has more than 1,200 employees worldwide. Brookfield Asset Management is a global asset manager with more than $100 billion in assets under management with 100 offices, 400 investment professionals and 14,000 operating employees. Since 2008, Toronto-based Brookfield Residential Property Services has doubled in size as it continues to carry out an ambitious, carefully timed international expansion.
San Marcos - Mahogany - A Brookfield Development
Brookfield Residential Property Services boasts a portfolio of powerhouse real estate franchise and brokerage brands that includes: Prudential Real Estate and Prudential Relocation, Royal LePage, La Capitale Real Estate Network, Johnston and Daniel in Canada, and Real Living. Together, these brands represent more than 80,000 real estate professionals who process over $100 billion of real estate annually.
Brookfield Residential Property Services owns and operates the world’s second largest global relocation services company, Brookfield Global Relocation Services. On December 6, 2011 Brookfield posted the following news relating to the Purchase of Prudential Real Estate and Prudential Relocation.
"Today Brookfield Residential Property Services (“Brookfield”), a Brookfield Asset Management Inc. affiliate, announced that it has purchased Prudential Real Estate and Relocation Services (“PRERS”), a recognized leader in employee relocation and real estate franchising from Prudential Financial, Inc. Prudential Relocation Services operates as Pricoa Relocation in Asia and Europe. Brookfield also sells all the “Real Living” franchises which already has over 10,000 agents.
The addition of PRERS to Brookfield’s existing residential real estate franchising and employee relocation services businesses establishes Brookfield as the world’s second largest employee relocation services provider and the third largest residential real estate franchising business.
Under a licensing agreement, Prudential Real Estate brokerage affiliates will be able to continue to use the Prudential brand based on the terms of their franchise agreements until the expiration of their franchise agreements.
“This transaction creates a global employee relocation services and real estate franchising leader,” explained Graham Badun, CEO, Brookfield Residential Property Services. “We have now increased the breadth and depth of our service offering, keeping pace with the evolving needs of our clients around the world.”
A North American & Global Leader
Through its various brands, Brookfield’s residential real estate franchisees are now present in all 50 U.S. states, 10 Canadian provinces, Mexico and Portugal, with a network of approximately 80,000 real estate agents, 2,800 real estate brokerage locations and more than $150 billion in annual residential real estate transactions.
U.S.-based Brookfield Global Relocation Services moves nearly 85,000 families in and out of over 125 countries around the world each year. With the acquisition, more than one-third of Fortune 100 companies are its clients. In addition, Brookfield is now the largest provider of relocation services to government, with long term relationships with the U.S. and Canadian governments.
The acquisition greatly strengthens Brookfield’s existing U.S. business and results in the expansion of its operations in nine countries, with a rapidly growing presence in China, Brazil and India.
“Today, Prudential’s real estate and relocation services businesses join a global company with a track record of over 100 years of success,” said Earl Lee, President of Prudential Real Estate and Relocation Services. “We’re excited to become part of a company that is focused on and deeply immersed in the real estate sector and is in the business for the long-term.”
Earl Lee will continue to lead the U.S. real estate business, and Rick Schwartz, President, Brookfield Global Relocation Services, will assume responsibility for the combined global relocation services business.
Brookfield’s parent company, Brookfield Asset Management, is a global asset manager with approximately $150 billion in assets under management. Brookfield is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and on NYSE Euronext under the symbol BAMA."
Real Living Lifestyles is proud to be a part of the successful franchise system of Real Living Real Estate and parent company Brookfield Residential Property Services.
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