Brookfield Residential Buys Prudential Real Estate

Brookfield Residential Property Services, an affiliate of Brookfield Asset Management, Inc., has purchased Prudential Real Estate and Relocation Services from Prudential Financial, Inc.

Allen Gammons, who became Gammons Realty in 2000 and then bought the Prudential Real Estate franchise for the balance of the state in 2005, says the acquisition is a tripling of resources for his company and a very positive move.

It does not affect his franchise agreement or those of other affiliates across North America. They will continue to use the Prudential brand.

But Gammons says the acquisition opens additional resources and corporate relationships. “Corporate relationships we have now,” he said, “can be built on locally and then become national connections.”

According to Gammons his operation has a high percentage of the relocation market share in the state because of Prudential, and adding this component is going to help a lot.

He says Rhode Island is very attractive place to live for people whose work requires extensive travel and cites two customers who work for the same company and each choose homes in North Kingstown. The town fit what they wanted for their families and with Green Airport nearby, they have easy access to the entire East coast.

Gammons and his staff find Green airport to be a big attraction when corporate clients are looking for a base which can be anywhere.

Brookfield Residential Property Services is a leading global provider of real estate and relocation services, analytics and knowledge. With this acquisition the company’s portfolio consists of leading brands, including Brookfield Global Relocation services, the second largest provider of global relocation services, Prudential Real Estate and Relocation Services, Brookfield Real Estate Services, Royal LePage, Real Living, Via Capitale and Centract.

Through its real estate brands it has nearly 80,000 real estate professionals in more than 2,800 locations, who transact over $150 billion annually.  

The global footprint spans North America, the United Kingdom, France, China, Singapore, India, Brazil and Australia and includes more than 2,500 employees worldwide.

It is a division of Brookfield Asset Management, a global asset manager with approximately $150 billion of assets under management.