We are delighted to announce that Brookfield Residential Property Services ("Brookfield RPS"), has successfully acquired 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 our existing residential real estate franchising and employee relocation services businesses establishes Brookfield RPS as the world’s second largest employee relocation services provider and the third largest residential real estate franchising business.
This is a tremendous development for our organization. Brookfield RPS and PRERS are a great fit, sharing a passion for the business and a strong focus on outstanding customer service. This transaction is a clear signal of our commitment to the industry, and our efforts to build a leading global real estate and relocation services organization, based on the values and commitment to excellence that both companies share and stand for in the marketplace.
A North American & Global Leader
Through our various brands, our 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.
Our U.S.-based employee relocation services company, Brookfield Global Relocation Services, now 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 our clients. In addition, we are now the largest provider of relocation services to government, with long term relationships with the U.S. and Canadian governments.
Further, the acquisition greatly strengthens our existing U.S. business and results in the expansion of our operations in nine countries, with a rapidly growing presence in China, Brazil and India.
Our 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.
For more information, please contact:
Michael Gotzamanis
Fleishman-Hillard
Direct: 416-598-5788
Mobile: 416-312-6251
Email: michael.gotzamanis@fleishman.ca