Blockbuster Deal Gives Brookfield Stake in $1.9 Billion Apartment Portfolio

Image of 801 S. Olive St. in downtown Los Angeles. In what is likely to be one of the largest multifamily deals of the year, a unit of Brookfield Asset Management has acquired a 49 percent stake in a nationwide portfolio of apartment buildings owned by Carmel Partners for $ 914 million, which values the full portfolio at $ 1.865 billion. The deal, which closed last month, is a recapitalization of a Carmel Partners’ portfolio that includes 3,864…
National Commercial Real Estate News From CoStar Group

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