Brookfield Real Estate Services Inc. changed its name to Bridegmarq Real Estate Services, effective immediately.

The Canada-based company said it will retain its BRE ticker, and there will be no operational or organizational changes.

Bridegmarq's manager, Brookfield Real Estate Services Manager Ltd., also adopted a new name—Bridgemarq Real Estate Services Manager Ltd. — and will remain a wholly owned unit of Brookfield Business Partners LP.

Separately, Bridegmarq said it will now directly enter into new franchise agreements, starting Jan. 1, based on amendments made to its management services agreement. The company expects the move to bring in ancillary revenue streams, including mortgage referral fee revenues, commercial franchise fees and lead management support services.