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.
Nigeria Nigeria Latest News, Nigeria Nigeria 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 »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: storeyspub - 🏆 16. / 74 Read more »