HomeServices of America, Inc.(TM), a Berkshire Hathaway affiliate,
and Brookfield Asset Management
(TSX:BAM.A)(NYSE:BAM)(EURONEXT:BAMA), announced today that they
have partnered to introduce Berkshire Hathaway HomeServices®-a new
franchise brand that joins the existing brands and affiliate
networks of Prudential Real Estate and Real Living Real Estate.
Berkshire Hathaway HomeServices® combines the financial strength
of both organizations, coupled with the operational excellence of
HomeServices and superior real estate franchising experience of
Brookfield.
The combined networks of more than 53,000 Prudential Real Estate
and Real Living Real Estate agents generated in excess of $72
billion in residential real estate sales volume in 2011, and
operate across more than 1,700 U.S. locations.
"Berkshire Hathaway HomeServices® is a new franchise brand built
upon the financial strength and leadership of Brookfield and
HomeServices," said Warren Buffett, chairman and CEO of Berkshire
Hathaway Inc. "I am confident that these partners will deliver
value to the residential real estate industry, and I am pleased to
have Berkshire Hathaway be a part of the new brand."
"We are honored and proud to be entrusted with the use of the
Berkshire Hathaway name as our new real estate franchise brand,"
said Ron Peltier, chairman and CEO of HomeServices. "We will convey
the strength of Berkshire Hathaway's reputation and its associated
principles of integrity and financial stability in everything we
do."
Berkshire Hathaway HomeServices® unites proven operational
excellence, demonstrated integrity and the reputation of Berkshire
Hathaway-among the world's most admired companies, according to
Fortune's 2012 ranking-to deliver its real estate franchise
offering in the market. This combination enables brokers and
affiliates to attract and retain the best agents to provide
superior customer service and to drive performance and profitable
growth. Berkshire Hathaway HomeServices® will be available in
2013.
"The strength of the Berkshire Hathaway name, coupled with the
operational excellence of HomeServices and the franchising
experience of Brookfield, positions Berkshire Hathaway
HomeServices® as a leading real estate franchise in the U.S.,
building on our traditions of exceptional client service and
innovation. Brookfield is excited to be a partner in creating a
home for the best real estate brokers and agents in the country,"
said Bruce Flatt, Brookfield Asset Management CEO.
Berkshire Hathaway HomeServices® will be led by an experienced
management team including Earl Lee, Chief Executive Officer;
Stephen Phillips, Chief Operating Officer; Brian Peterson, Chief
Financial Officer and Aleya Chattopadhyay, Chief Marketing
Officer.
Information about Berkshire Hathaway HomeServices® is available
at: www.berkshirehathawayhs.com
About HomeServices of America, Inc.(TM)
HomeServices of America, Inc. is the nation's second largest,
full-service residential brokerage firm and one of the largest U.S.
providers of integrated real estate services. HomeServices is owned
by MidAmerican Energy Holdings Company, a consolidated subsidiary
of Berkshire Hathaway Inc. Since it became a MidAmerican affiliate
in 1998, HomeServices has grown from 4,000 agents in three markets
to more than 16,000 agents in 21 states. HomeServices is comprised
of some of the industry's most respected real estate firms,
specializing in brokerage, mortgage, title and escrow services,
insurance and relocation. Each of the HomeServices' companies has
been serving clients for an average of more than 60 years and is
regarded for unparalleled service.
During 2011, the company's associates facilitated nearly $32
billion in residential real estate sales and closed over $3.0
billion in home mortgages. From 1998-2011, HomeServices transacted
nearly 1.9 million brokerage units with a total sales volume of
more than $506 billion.
For more information, visit www.homeservices.com
About Brookfield
Brookfield Asset Management Inc. is a global alternative asset
manager with over $150 billion in assets under management. The
company has over a 100-year history of owning and operating assets
with a focus on property, renewable power, infrastructure and
private equity. It has a range of public and private investment
products and services. Brookfield is co-listed on the New York and
Toronto Stock Exchanges under the symbols BAM and BAM.A,
respectively, and on NYSE Euronext under the symbol BAMA.
Brookfield Residential Property Services is a leading global
provider of real estate and relocation services, technology and
knowledge, and a division of Brookfield Asset Management. Through
its North American real estate and relocation operations, it has
more than 75,000 real estate professionals in more than 2,800
locations, transacting over $150 billion in 2011.
Prudential Real Estate and Real Living franchisees are
independently owned and operated. Prudential, the Prudential logo
and the Rock symbol are service marks of Prudential Financial, Inc.
and its related entities and are used under license, with no other
affiliation with Prudential.
For more information, visit www.brookfield.com
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the U.S. Securities Act of 1933, as
amended, Section 21E of the U.S. Securities Exchange Act of 1934,
as amended, and "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements that are predictive in nature, depend
upon or refer to future events or conditions, include statements
regarding the operations, business, financial condition, expected
financial results, performance, prospects, opportunities,
priorities, targets, goals, ongoing objectives, strategies and
outlook of HomeServices, Brookfield and their subsidiaries, as well
as the outlook for North American and international economies for
the current fiscal year and subsequent periods, and include words
such as "expects", "anticipates", "plans", "believes," "estimates,"
"seeks," "intends," "targets," "projects," "forecasts" or negative
versions thereof and other similar expressions, or future or
conditional verbs such as "may," "will," "should," "would" and
"could".
Although we believe that our anticipated future results,
performance or achievements expressed or implied by the
forward-looking statements are based upon reasonable assumptions
and expectations, the reader should not place undue reliance on
forward-looking statements because they involve known and unknown
risks, uncertainties and other factors, many of which are beyond
our control, which may cause the actual results, performance or
achievements of HomeServices or Brookfield to differ materially
from anticipated future results, performance or achievement
expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially
from those contemplated or implied by forward-looking statements
include, but are not limited to: the impact or unanticipated impact
of general economic, political and market factors in the countries
in which we do business; the behavior of financial markets,
including fluctuations in interest and foreign exchanges rate;
global equity and capital markets and the availability of equity
and debt financing and refinancing within these markets; strategic
actions including dispositions; the ability to complete and
effectively integrate acquisitions into existing operations and the
ability to attain expected benefits; changes in accounting policies
and methods used to report financial condition (including
uncertainties associated with critical accounting assumptions and
estimates); the effect of applying future accounting changes;
business competition; operational and reputational risks;
technological change; changes in government regulation and
legislation within the countries in which we operate; changes in
tax laws, catastrophic events, such as earthquakes and hurricanes;
the possible impact of international conflicts and other
developments including terrorist acts; and other risks and factors
detailed from time to time in any relevant documents filed with
securities regulators in Canada and the United States.
We caution that the foregoing list of important factors that may
affect future results is not exhaustive. When relying on our
forward-looking statements, investors and others should carefully
consider the foregoing factors and other uncertainties and
potential events. Except as required by law, HomeServices and
Brookfield undertake no obligation to publicly update or revise any
forward-looking statements, whether written or oral, that may be as
a result of new information, future events or otherwise.
Contacts: Marisa Mulqueen Office: 212-704-8112 Mobile:
646-351-2309
Brookfield Asset Managem... (TSX:BAM.A)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Brookfield Asset Managem... (TSX:BAM.A)
Historical Stock Chart
Von Jul 2023 bis Jul 2024