Brookfield Residential Property Services has purchased Prudential Financial Inc’s real estate franchise and the Prudential name used by real estate agents around New Jersey.
The purchase of Prudential Real Estate and Relocation Services by Toronto-based Brookfield closed on Tuesday. In a regulatory filing, Newark-based Prudential said the sale would generate about $110 million in proceeds. As of Sept. 30, the unit had a net book value of about $25 million. Read more.