Brief: Brookfield Real Estate Services Announces Acquisition Of Franchise Agreements

Bridgemarq Real Estate Services

08/12/2017 12:00

Dec 8 (Reuters) - Brookfield Real Estate Services Inc 
 BRE.TO : 
    * BROOKFIELD REAL ESTATE SERVICES INC. ANNOUNCES ACQUISITION 
OF 
FRANCHISE AGREEMENTS 
    * BROOKFIELD REAL ESTATE SERVICES - TO ACQUIRE FRANCHISE 
AGREEMENTS REPRESENTING 38 REAL ESTATE OPERATIONS, 563 REALTORS 
FOR ABOUT $8.8 MILLION 
    * BROOKFIELD REAL ESTATE SERVICES INC - APPROVED ACQUISITION 
OF 
CERTAIN FRANCHISE AGREEMENTS FROM BROOKFIELD REAL ESTATE 
SERVICES MANAGER LTD 
    * BROOKFIELD REAL ESTATE SERVICES - FRANCHISE AGREEMENTS 
ESTIMATED 
TO GENERATE ANNUAL ROYALTY STREAM OF $1.2 MILLION & WILL BE 
EFFECTIVE JAN 1, 2018 
    * BROOKFIELD REAL ESTATE-PAYMENT DUE JAN 1 OF ABOUT $7.0 
MILLION, 
PLUS APPLICABLE HST, TO BE FUNDED THROUGH CASH ON HAND & DRAW 
DOWN ON CO'S DEBT FACILITIES 
 
Source text for Eikon:  ID:nCNWPfzmZa  
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