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Brookfield to buy remaining stake in real estate unit: Reuters

Canada’s Brookfield Asset Management will buy the remaining stake in its real estate unit for about $6.5 billion, as it looks to rescue the pandemic-hit business that suffered massive declines in its property value, Reuters reported.

Canada’s Brookfield Asset Management will buy the remaining stake in its real estate unit for about $6.5 billion, as it looks to rescue the pandemic-hit business that suffered massive declines in its property value, Reuters reported. The deal price for the $88 billion Brookfield Property Partners, one of the largest US commercial real estate firms, was raised from $5.9 billion the alternative-asset manager offered in January.

Source: Reuters