As values slide, Brookfield Asset Management plans to boost commercial real estate investment

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 92%

Business News News

Business Business Latest News,Business Business Headlines

The company hopes to capitalize on plunging commercial real estate valuations forecast

have revealed spiralling losses stemming from their commercial property holdings during the first half of 2023. They have warned of further writedowns in the months ahead.

Mr. Flatt said roughly 20 per cent of real estate assets, such as “traditional, non-premium office or offices in some cities” are “not so good” and he acknowledged “there is real estate that does not have good fundamentals.”The company’s South Korean, Dubai and São Paulo office portfolios are 99 per cent full with record high rents, Mr. Flatt said, while rents for logistics properties grew 11 per cent in 2022 and “hotel rooms are full almost everywhere.

In 2009, the company launched the US$5.6-billion Brookfield Real Estate Turnaround Fund, which delivered a 35-per-cent net rate of return. Four iterations of the Brookfield Strategic Real Estate Partners fund have been launched since then – each producing double-digit rates of return though none approaching the level achieved by the 2009 fund – and the company is currently raising funds for a fifth.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fidelity signs private real estate investment deal with Brookfield Asset Management - BNN BloombergFidelity Investments Canada ULC has signed a deal that will offer investors exposure to private real estate investments through Brookfield Asset Management.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Helio Protocol X Synclub: A significant merger for efficient asset managementThe origin of stablecoins was a significant breakthrough in the decentralized world. It’s all because […]
Source: CryptoAmb - 🏆 22. / 68 Read more »

Fidelity Partners With Brookfield To Launch Private Real Estate Investment PortfolioThe new portfolio will enable individual Canadians to benefit from investing in private real estate, an asset class that is typically held by institutional investors, such as REITs. realestate realestatenews investment
Source: storeyspub - 🏆 16. / 74 Read more »