Announcements

Official Information

You can access the full News Release by clicking here.

 

 

 

 

To view a fact sheet providing an overview of this acquisition click here.

 

 

 

Brookfield Residential Property Services Announces Acquisition of Prudential Real Estate and Relocation Services.

Brookfield Residential Property Services (Brookfield RPS), a Brookfield Asset Management Inc. affiliate, announced that it has purchased Prudential Real Estate and Relocation Services, 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.

Brookfield RPS provides a full suite of residential, relocation and analytic services designed to meet the unique real estate needs of clients across the globe. Brookfield RPS is a strong global company that is focused on and deeply immersed in the real estate and relocation services sectors, is in the business for the long-term, and is looking for continued domestic and international growth.

Brookfield RPS’ Growth Strategy

This acquisition further demonstrates Brookfield RPS’ continued expansion and commitment to the residential real estate franchising and employee relocation services industries. With this acquisition, Brookfield RPS will have more than tripled the size of its business over the last three years through its ambitious and carefully timed expansions.

With sponsorship and encouragement from our parent company, Brookfield Asset Management Inc., a global asset manager with approximately $150 billion of assets under management, we’ve used our decades of experience as strong, agile, financial managers to truly become a global force.

New Global Industry Leader

This transaction will add Prudential Financial, Inc.’s real estate brokerage and relocation services companies to our businesses, to create a new global industry leader, positioned to grow and lead the market. The combination of Prudential Relocation Services, including Pricoa Relocation, with Brookfield Global Relocation Services will create the clear #2 player in global employee relocation, managing close to 85,000 relocations per year, and the most financially viable employee relocation company in the world.

Combined we have a solid corporate relocation business with 35% of Fortune 100 companies as clientele. The combined employee relocation services company will:

  • Create the #1 player in the global government relocation market;
  • Improve our ability and capacity to serve large, complex, global clients;
  • Enhance our ability to attract, develop and retain top talent;
  • Broaden the reach and value of our supply chain;
  • Create an environment for innovation, reinvention, investment and growth;
  • Strengthen our service performance, client retention results and reputation;
  • Accelerate our expansion (i.e. recent office openings in Bangalore, Brisbane and Sao Paulo);

Our complementary businesses will extend our capabilities and geographic footprint, enabling us to serve a greater number of people in more places around the globe. This move will enhance the ability of two organizations to pursue growth on a global scale. Given that both organizations have similar industry expertise and a strong commitment to customer service, we expect to quickly achieve the full potential represented by this transaction.

You can access the full News Release by clicking here.

To view a fact sheet providing an overview of this acquisition click here.