Brookfield Asset Management acquires Prudential Real Estate and Relocation Services

Last night Brookfield Asset Management announced the purchase of Prudential.

Here is a copy of an early press release from Brookfield:

Brookfield acquires Prudential Real Estate and Relocation Services

Brookfield Residential Property Services, a Brookfield Asset Management (BAM) affiliate, announced that it has purchased Prudential Real Estate and Relocation Services, or PRERS, from Prudential Financial (PRU). 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.

Leave a Reply