Prudential Sets Up National Network

Prudential Real Estate Affiliates, which for eight years has allowed residential franchisees to set up commercial real estate operations on the side, is establishing a separate national network of commercial real estate brokers. Prudential Chief Executive Steve Ozonian said he expects to announce the first affiliates over the next few months. Commercial brokers already affiliated with the Irvine-based company through existing franchises will convert to the new network over the next year. Prudential Real Estate Affiliates, a Prudential Insurance Co. subsidiary, has more than 1,400 offices in the U.S. and Canada and generated sales of $60.9 billion in 1996. Officials said services provided by other subsidiaries and affiliates of Prudential--such as a huge corporate relocation business, financing and access to Wall Street--will be bundled for sale to clients of the new commercial brokers.