Play Video
Brookfield, one of the world’s largest owners of prime office properties, started raising money earlier this year for the new vehicle just months after closing its fourth fund at US$17 billion. A spokesperson for the Toronto-based asset manager declined to comment.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
Brookfield focuses on top-quality office real estate, which will produce better returns over the long run, chief executive Bruce Flatt told investors last month.Article content “We have always focused on owning premier real estate in the best locations, which is why 95 per cent of our office portfolio is either trophy or Class A office space that continues to vastly outperform the broader market,” he said in a letter to shareholders of Brookfield Corp., Brookfield Asset’s parent company. The group also invests in other property asset classes, including hotels, malls, logistics and housing.
Flatt told investors the problems are isolated to those assets and aren’t material to the firm’s sprawling real estate business, which includes New York’s Manhattan West and London’s Canary Wharf. Brookfield has “always prided ourselves on being an extremely responsible borrower, and our reputation in the capital markets sets us apart,” he said.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »