Prudential Real Estate under new ownership

For Prudential Integrity One, in Granville, it’s business as usual.

Brookfield Residential Property Services has purchased Prudential Real Estate ad Relocation Services, including its Granville office, from Prudential Financial Inc.

“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 Patti Urbatis, Broker/Owner in Granville. “Locally, Prudential Integrity One is still the same great company, providing the same great service to homebuyers and sellers.”

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, according to a Brookfield announcement.

For Prudential Real Estate’s more than 600 affiliates operating across North America and their clients, the news means “business as usual,” the announcement said. Under a licensing agreement, Prudential Real Estate affiliates will continue using the Prudential brand based on the terms of its franchise agreements. The expanded scale of the combined businesses will ensure that the network is positioned with leading-edge tools and technologies to best serve their clients, according to the announcement.

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, the announcement said.

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.

Source: http://www.newarkadvocate.com/article/20121120/COMMUNITIES02/311210010