Press Releases
Press Release For: Tuesday, December 06, 2011

Prudential Georgia Realty Is Now Part Of A New Global Real Estate Powerhouse

(Atlanta) December 6, 2011 - Today Brookfield Residential Property Services ("Brookfield"), 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.

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.  This transaction creates a new industry powerhouse and establishes the new organization as the #3 player in the North American residential real estate brokerage market with almost 80,000 real estate agents and 2,800 locations. Our relocation entities serve over 85,000 annual moves in 125 countries.

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.

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

Prudential Georgia Realty is the exclusive Prudential Real Estate franchise for Metro Atlanta.  The company will retain the current brand name with no changes in local ownership or management.  Prudential Georgia Realty is owned and operated by Dan Forsman, President & CEO.  In the past four years, Trendgraphix reports Prudential Georgia Realty has consistently grown market share more than any other large brokerage.  In 2010 and 2011, the company leads the market in transactions, listing inventory and listings sold.  In 2010, the Atlanta Business Chronicle ranked PGR as the #1 real estate company in Atlanta.

"We are very excited about the potential of the combined organizations.  Business is certainly going global and the business of real estate is no exception.  But we recognize that real estate decisions are local.  This new organization gives us the best of all worlds - allows us to leverage the power of a large global real estate organization, maintains the respected Prudential brand and ensures the ability to make local decisions that are best for our agents and clients.  We have a long-term commitment to our franchise and this announcement gives us a strong and stable foundation for the future.  Our teams have generated tremendous momentum in 2011 and we have some exciting new announcements coming in early 2012," said Dan Forsman, President & CEO of Prudential Georgia Realty.

About Brookfield Residential Property Services
Brookfield Residential Property Services is a leading global provider of real estate and relocation services, analytics and knowledge.  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.  Its 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.

About Prudential Real Estate and Relocation Services
Prudential Real Estate and Relocation Services is a leading real estate brokerage franchise and relocation services business.  Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with more than 1,600 franchise offices in its Network.  Prudential Real Estate franchises are independently owned and operated companies selected based upon outstanding performance records, high levels of customer service and business values.  Prudential Relocation Services is a leading provider of global relocation services to Fortune 500 corporations.  With locations in the United States, Canada, United Kingdom, France, Hong Kong, Singapore and China, Prudential Relocation - which operates as Pricoa Relocation in Asia and Europe - offers a comprehensive suite of services to its worldwide clients and their transferees.

About Prudential Georgia Realty
Prudential Georgia Realty is an independently owned and operated member of Prudential Real Estate Affiliates, a full-service residential and commercial real estate network with offices throughout the U.S. and Canada. Real Estate Magazine ranks Prudential Georgia Realty as one of the top 100 real estate companies in the U.S.  The company was the first large brokerage in the nation to be awarded the prestigious Realtor.com Online Marketing Award of Excellence.  In 2010, the company was ranked as the #1 Real Estate Company in Atlanta by the Atlanta Business Chronicle.  Trendgraphix reports Prudential Georgia Realty is #1 in transactions, #1 in listing inventory and #1 in listing sales for 2010 and 2011.  Visit our website to search all the available properties at
www.PrudentialGA.com.  Our website is #1 on Google for Atlanta real estate and provides a variety of custom searches plus the latest market facts and trends.  Prudential Georgia Realty has 22 locations and 1,100 REALTORS serving Metro Atlanta, North Georgia, the Southern Crescent and West Georgia. 


For more information, please contact:

Tony Floyd
Chief Marketing Officer
Prudential Georgia Realty
Mobile: 404.372.7791
Email:
tony.floyd@prudentialga.com

Rick Fox
Fleishman-Hillard
Direct: 312-729-3734
Mobile: 312-286-4983
Email:
rick.fox@fleishman.com