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Prudential Real Estate affiliates to merge with Brookfield Residential Property Services

Brookfield Residential Property Services, an affiliate of Brookfield Asset Management, announced that it purchased Prudential Real Estate and Relocation Services. The union creates North America’s third-largest residential real estate brokerage business and the world’s second-largest relocation-services provider.

Prudential Network Realty will remain an independently owned and operated local Northeast Florida real estate company under the leadership of President and Chief Executive Officer Linda Sherrer, Executive Vice President of Residential Real Estate Christy Budnick, and partners Thomas Petway, W.A. McGriff, E. Bruce Bower, and J. Michael Hughes.

“Prudential Network Realty will continue to provide superior services to the Northeast Florida community as we have for the last 23 years,” said Prudential Network Realty Founder, President and CEO Linda H. Sherrer. “We are pleased to be transitioning with the entire network to a real estate company that will strengthen our already solid foundation in the real estate industry.”

For the second straight year, Prudential Network Realty is outpacing the market in year over year growth in Northeast Florida.

This transaction creates a new industry powerhouse and establishes Brookfield as the No. 3 player in the North American residential real estate brokerage market with almost 80,000 real estate agents and 2,800 locations. The expanded scale of the combined resources ensures that the company will remain at the forefront of the industry and is positioned to provide leading edge tools and technologies for the future.

Prudential Real Estate and Brookfield Real Estate affiliates and agents will continue to operate as separate networks. Locally, Prudential Network Realty has a multi-year contract to use the Prudential brand. As such, the Prudential Real Estate name will continue in the market.

More information is available at www.PrudentialNetworkRealty.com.


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