Brookfield Residential Property Services Purchases Prudential Real Estate and Relocation Services
By Erica Vautier, Real Living Lifestyles, December 7, 2011
"Brookfield Residential Property Services, the parent company of the Real Living Real Estate network, has just announced the acquisition of Prudential Real Estate and Relocation Services.
This is a tremendous development for Brookfield and Real Living. Our growing company is now the #3 player in the North American residential real estate brokerage market with almost 80,000 real estate agents and 2,800 locations.
 “Brookfield Residential Property Services also owns and operates the world’s second largest global relocation services company, Brookfield Global Relocation Services,” said Steve Rodgers, Owner and President of Real Living Lifestyles. “And, Real Living Real Estate was just recognized as the fastest growing real estate brand in the nation.”
Rodgers and owners Mark Loscher and Jim Browne have eight real estate offices throughout San Diego, providing residential real estate solutions and more than a dozen integrated real estate services. They are excited to be a part of the Brookfield network and believe this latest acquisition will help strengthen their business.
“Our goal is to provide agents, clients and the community with a seamless real estate experience,” said Rodgers. “Purchasing a leading employee relocation and real estate franchising company gives us the resources to create more opportunities and more close transactions. It validates that we are on the right and strongest real estate train to serve our clients.”
Find out more about the acquisition of Prudential, what this means for local offices and how it will impact the San Diego market. Contact any one of our managers or talk to Steve Rodgers directly.
Read the Full Press Release Below
BROOKFIELD RESIDENTIAL PROPERTY SERVICES ANNOUNCES ACQUISITION OF PRUDENTIAL REAL ESTATE AND RELOCATION SERVICES
(Chicago, IL) December 6, 2011 – 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.
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.
“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.
About Brookfield Residential Property Services
Brookfield Residential Property Services is a leading global provider of real estate and relocation services, analytics and knowledge. The company’s portfolio consists of leading brands, including Brookfield Global Relocation Services, the second largest provider of global relocation services, Prudential Real Estate and Relocation Services, Brookfield Real Estate Services, Royal LePage, Real Living, Via Capitale and Centract. Through its real estate brands, it has nearly 80,000 real estate professionals in more than 2,800 locations, who transact over $150 billion annually. Its global footprint spans North America, the United Kingdom, France, China, Singapore, India, Brazil and Australia, and includes more than 2,500 employees worldwide. It is a division of Brookfield Asset Management, a global asset manager with approximately $150 billion of assets under management.
About Real Living Lifestyles
Real Living Lifestyles is one of the largest residential real estate brokerages in San Diego County. With eight offices, nearly 400 agents and more than a dozen affiliated services, we are using our incredible momentum to better serve the community. Led by President and Partner Steve Rodgers, Real Living Lifestyles offers clients a suite of INTEGRATED REAL ESTATE SERVICES. Our sales associates are supported by an expert staff of professionals who specialize in a variety of fields, including: real estate marketing, home financing, contracts & negotiations, home insurance, and new construction. Through our collaborative business model, clients enjoy smoother transactions and better communication."
About Gary Harmon
EXPERIENCE! Make your next relocation move "your best move," by asking for Gary Harmon by name. Gary Harmon, your Relocation Realtor, has been the solution for outgoing and incoming relocation needs for over 15 years. Gary has successfully worked with the following relocation companies: Prudential Relocation Services, Brookfield Global Relocation Services, Cendant, Relocation Solutions, Weichert Relocation, and Primacy Relocation. Gary Harmon has had special Prudential California Realty relocation training and is certified in Marketing Assistance and Destination Services. Gary now does relocation through the Hadley Home Team and Real Living Lifestyles. Gary Harmon's 22 years of real estate experience can be invaluable. If you are an individual that needs to move anywhere else in the United States or to many countries around the world, Gary Harmon can help you with that relocation, also. If you are a company of any size, Gary Harmon and the Real Living Lifestyles Relocation San Diego team look forward to helping you.
|