Blackstone to buy Simply Self Storage from Canada’s Brookfield for $1.2 billion

(Reuters) – Blackstone Group Inc BX.N has reached an agreement to buy Simply Self Storage from Canada’s Brookfield Asset Management Inc BAMa.TO for about $1.2 billion, a spokeswoman for the asset manager said late on Sunday.

Blackstone’s non-traded real-estate investment trust, known as BREIT, is acquiring the 8 million-square-foot portfolio of self-storage facilities, the spokeswoman said, confirming an earlier report from the Wall Street Journal.

Bloomberg reported earlier this month that Brookfield was exploring a sale of the real estate company.

The Canadian company acquired Simply Self Storage for $830 million in 2016 when it had 90 locations.

The self-storage facilities provider now operates more than 120 locations across 23 U.S. states, including Texas, Florida, New York and California, according to its website.

BREIT, which was launched in 2017 and has a net asset value of $19 billion, plans to continue to buy smaller assets in the fragmented industry and

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Brookfield Weighs $3 Billion Life Sciences Real Estate Portfolio Sale

(Bloomberg) — Brookfield Asset Management Inc. is exploring a sale of its life-sciences real estate portfolio, and seeking about $3 billion, according to people with knowledge of the matter.



a large body of water with a city in the background: The CN Tower stands among buildings in the downtown skyline in this aerial photograph taken above Toronto, Ontario, Canada, on Monday, Oct. 2, 2017. Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada's biggest city.


© Bloomberg
The CN Tower stands among buildings in the downtown skyline in this aerial photograph taken above Toronto, Ontario, Canada, on Monday, Oct. 2, 2017. Toronto housing prices fell for a fourth month in September as sales remained sluggish, particularly in the detached-home segment that has borne the brunt of the correction in Canada’s biggest city.

The Toronto-based alternative asset manager is working with advisers to sell roughly 2.3 million square feet of life-sciences real estate it acquired as part of its 2018 purchase of Forest City Realty Trust Inc., said the people, who requested anonymity because the information isn’t public.

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A Brookfield representative declined to comment.

Blackstone Group Inc. agreed last week to recapitalize a portfolio of

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Indian developer RMZ sells real estate assets to Canada’s Brookfield for $2 billion

(Reuters) – Privately held Indian developer RMZ Corp has sold 12.5 million square feet of its real estate assets to Brookfield Asset Management Inc BAMa.TO for $2 billion, the Canadian asset manager said on Monday.

The deal, which was reported earlier by Bloomberg and The Hindu newspaper, includes divestment of RMZ’s co-working business CoWrks, a Brookfield spokeswoman confirmed in an email.

RMZ will have zero debt after the deal that involves its rent-yielding offices and co-working spaces. It will use the money to expand its portfolio.

“The deal marks the largest-ever deal in the Indian real estate industry,” RMZ said in a statement.

The company will divest a part of its core portfolio across Bangalore and Chennai, it said.

The commercial real estate asset portfolio of RMZ is valued at about $10 billion, according to The Hindu newspaper of India.

The deal involved a sale of 18% of RMZ’s commercial

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Indian developer RMZ sells real estate assets to Canada’s Brookfield for $2 bln

Oct 19 (Reuters)Privately held Indian developer RMZ Corp has sold 12.5 million square feet of its real estate assets to Brookfield Asset Management Inc BAMa.TO for $2 billion, the Canadian asset manager said on Monday.

The deal, which was reported earlier by Bloomberg and The Hindu newspaper, includes divestment of RMZ’s co-working business CoWrks, a Brookfield spokeswoman confirmed in an email.

RMZ will have zero debt after the deal that involves its rent-yielding offices and co-working spaces. It will use the money to expand its portfolio.

“The deal marks the largest-ever deal in the Indian real estate industry,” RMZ said in a statement.

The company will divest a part of its core portfolio across Bangalore and Chennai, it said.

The commercial real estate asset portfolio of RMZ is valued at about $10 billion, according to The Hindu newspaper of India.

The deal involved a sale of 18% of

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Brookfield Makes Massive $2 Billion India Real Estate Investment

Canadian asset manager Brookfield Asset Management (NYSE: BAM) is doubling down on its investments in India through a $2 billion real estate deal, its largest-ever purchase in the South Asian country.

Brookfield will buy 12.5 million square feet of commercial real estate assets from privately held developer RMZ Corp. The purchase includes rent-yielding office space and commercial co-working space.

A group of skyscrapers, seen from below.

Image source: Getty Images.

A growing presence

Brookfield already operates about 22 million square feet of office space in India. In September, it announced plans to raise up to $600 million by publicly listing its real estate investment trust (REIT), Brookfield India Real Estate Trust. That listing is expected to occur in December or early January.

And it’s not just commercial real estate: A group led by Brookfield’s subsidiary Brookfield Infrastructure (NYSE: BIP)(NYSE: BIPC) recently purchased a group of 135,000 Indian telecom towers from Reliance Jio Platforms in a

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Brookfield to Invest $2 Billion in Biggest Indian Property Deal

(Bloomberg) — Brookfield Asset Management will buy an Indian developer’s commercial properties for $2 billion, the biggest real estate deal in the South Asian nation.



a view of a tall building: Office windows sit illuminated in Germany.


© Bloomberg
Office windows sit illuminated in Germany.

The Canadian asset manager is acquiring 12.5 million square feet of rent-yielding offices and co-working spaces from RMZ Corp., the privately held developer said in a statement on Monday. The Indian firm said it will have zero debt after the transaction and will use the money to expand its portfolio.

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Large foreign investors are buying into the Indian office market in recent years. Since 2011, the segment has garnered $15.4 billion of equity investments, according to property research firm Knight Frank. Blackstone last week signed a non-binding agreement to buy some assets, a deal Bloomberg News previously reported could be worth $2 billion.

Read more: Blackstone Nears $2 Billion India Property Deal With Prestige

RMZ

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Brookfield Property Partners: Pay For Office And LP Investments, Get Retail For Free (NASDAQ:BPY)

Despite the seemingly intensified post-COVID-19 headwinds, I think Brookfield Property Partners (BPY) warrants investors’ attention. While the BPY portfolio is high-quality and thus, should prove less sensitive to the current backdrop, the market is currently pricing in an overly punitive discount to NAV. Plus, there’s additional downside protection from the ~$1bn commitment by BAM and partners, as well as the optionality from BPY’s rich development pipeline. At current prices, BPY investors pay for the core office portfolio and LP investments, and get the core retail assets for free.

High-Quality Concentration

To be clear, long-term concerns on the state of physical retail remain very valid. But quality counts as well, and BPY did a good job of highlighting the quality of its underlying assets and its higher tenant profitability at the recent investor day event. Case in point – BPY currently holds a 19% share in high-quality retail real estate in

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