BrokerageIndustry News

HomeServices acquires Koenig & Strey

Deal completes Brookfield's sales of GMAC offices

Brookfield Residential Property Services has sold Chicago-based luxury broker Koenig & Strey GMAC Real Estate to HomeServices of America Inc., completing a planned disposition of corporate-owned brokerage offices Brookfield RPS acquired in its purchase of GMAC Home Services LLC last year.As was the case in other recent sales of corporate-owned GMAC brokerages, Koenig & Strey will remain a franchisee of Canadian-based Brookfield RPS' North American real estate network.Brookfield RPS announced in July the sale of San Francisco Bay Area-based luxury broker Pacific Union GMAC Real Estate to principals of Morgan Lane Marin Inc. (see story).Other recent deals include the sale of Boston-based Hammond Residential Real Estate to founder Saul Cohen, and New Jersey-based Gloria Nilson GMAC Real Estate to investors led by real estate veteran Dick Schlott.Graham Badun, Brookfield RPS managing partner and chief executive officer, called the sale of Koenig & Strey to HomeServices "a ...