BROOKFIELD RESIDENTIAL PROPERTY SERVICES ANNOUNCES ACQUISITION OF PRUDENTIAL REAL ESTATE AND RELOCATION SERVICES
For Prudential Ambassador Real Estate it’s business as usual
(Omaha, NE) 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 global relocation and real estate brokerage from Prudential Financial, Inc. Prudential Relocation Services operates as Pricoa Relocation in Asia and Europe.
The addition establishes Brookfield as North America’s third largest residential real estate brokerage business and the world’s second largest global relocation services provider.
For Prudential Real Estate’s more than 600 affiliates operating across North America and their clients, the news means “business as usual.” Under a licensing agreement, Prudential Real Estate affiliates will continue using the Prudential brand based on the terms of their franchise agreements. The expanded scale of the combined businesses will ensure that the network remains at the forefront of the industry, positioned with leading-edge tools and technologies to best serve their clients.
“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.”
“We are thrilled to join Brookfield, a leader in residential real estate franchising and employee relocation services and a brand name that is synonymous with strength, stability and growth,” said Vince Leisey, Owner “Locally, Prudential Ambassador is still the same great company, providing the same great service to homebuyers and sellers.”
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. “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 Rich 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 Prudential Real Estate and Relocation Services
Prudential Real Estate and Relocation Services is a leading real estate brokerage franchise and relocation services business. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with more than 1,600 franchise offices in its Network. Prudential Real Estate franchises are independently owned and operated companies selected based upon outstanding performance records, high levels of customer service and business values. Prudential Relocation Services is a leading provider of global relocation services to Fortune 500 corporations. With locations in the United States, Canada, United Kingdom, France, Hong Kong, Singapore and China, Prudential Relocation – which operates as Pricoa Relocation in Asia and Europe – offers a comprehensive suite of services to its worldwide clients and their transferees.
For more information, please contact:
Prudential Ambassador Real Estate
Please know this was a corporate decision and Prudential Ambassador Real Estate is still in business in Omaha, Nebraska. Vince Leisey is still the owner and broker. If you have any questions regarding this acquisition, please call 402-493-4663 or email: firstname.lastname@example.org.