Brookfield Plans $25B of Commercial Property Sales in Coming Years
Brookfield Asset Management plans to harvest about $25 billion from commercial property sales in the coming years. The Toronto-based company, with U.S. headquarters in New York, has set a similar goal for each of its flagship funds.
Of Brookfield’s $30 billion in commercial property holdings worldwide, the company intends to hold about $16 billion “for a very long time, if not forever,” CEO Bruce Flatt wrote in an August 12 letter to shareholders. However, the company intends to realize $10 billion from up-financings and sales of partial interests in these assets.
The remaining $14 billion is invested in “shorter-term opportunistic property investments, including LP commitments to our private real estate fund strategies and direct real estate holdings,” wrote Flatt. “Virtually all of these assets will be monetized opportunistically over the next five to seven years, with the proceeds then available to invest across the entire franchise.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).