Prudential Real Estate and Relocation Services (PRERS), a recognized leader in employee relocation and real estate franchising was purchased on December 6, 2011 by Brookfield Real Estate, a Brookfield Asset Management Inc. affiliate, for $110 Million.
Prudential Financial, Inc. previously owned the Prudential Realty division, now part of Brookfield.
Prudential Montana Real Estate, previously an affiliate of the Prudential Financial Network, will now be affiliated with Brookfield Real Estate Services, Inc. and Brookfield Residential Property Services.
All Prudential Real Estate brokerage affiliates appear to be able to continue using the Prudential brand, based on the terms of their franchise agreements, under a licensing agreement between the two real estate corporations.
In concert with its present U.S. real estate and relocation business, Brookfield's Prudential real estate acquisition results in a significantly expanded operation which will now include nine countries and an expanding presence in India, Brazil, and China.
Also with this Prudential real estate acquisition, Brookfield will have almost 80,000 realty professionals, in more than 2,800 spots on the globe, who assist it in garnering over $150 billion in sales each year.
It will have an impressive global reach from North America, including the US, Mexico, and Canada (Brookfield's Headquarters); to Europe, including United Kingdom, France, and Portugal; to Asia: China, Singapore, and India; to South America's rapidly growing country of Brazil; and to the all-important continent of Australia.
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