- Brookfield REIT (BAM.A) has acquired several properties, increasing its total asset value to $1.5 billion
- Acquisitions include the DreamWorks Animation Campus, two luxury apartment buildings and more than 500,000 square feet of logistics real estate
- These acquisitions have nearly tripled the total asset value of the REIT to approximately $1.5 Billion
- Brookfield Real Estate Income Trust Inc. is a real estate investment trust
- Brookfield Asset Management Inc. Class A Limited Voting Shares opened trading at C$74.18 per share
Brookfield REIT (BAM.A) has acquired several properties, increasing its total asset value to $1.5 billion.
The acquisitions include the DreamWorks Animation Campus in Glendale, CA for $326.5 million, two luxury apartment buildings totalling 445 units for $172 million and more than 500,000 square feet of logistics real estate for $71 million.
Zach Vaughan, CEO of Brookfield REIT, remarked on the transactions.
“With the acquisition of these diverse assets in addition to the three properties Brookfield contributed to the REIT in November, we have nearly tripled the total asset value of the REIT.
We are excited to enter the studio and creative real estate sector while partnering with an innovative tenant and to apply our deep operating expertise in the apartment and logistics sectors to manage these new properties.”
With these new acquisitions, Brookfield REIT’s total asset value has grown to approximately $1.5 billion.
Brookfield Real Estate Income Trust Inc. (Brookfield REIT) is a real estate investment trust that seeks to invest in a diversified, global portfolio of high-quality real estate and debt investments. Brookfield REIT is externally managed by a subsidiary of leading global alternative asset manager Brookfield Asset Management Inc. (NYSE: BAM; TSX: BAM.A), one of the world’s largest investors in real estate with approximately $237 billion of assets under management.
Brookfield Asset Management Inc. Class A Limited Voting Shares opened trading at C$74.18 per share.