Deals
Brookfield Seeks $1 Billion for Fund Aimed at Poor Areas
- Pool would invest in NYC and Connecticut to claim tax break
- Investments to include apartments, upscale shopping center
Photographer: David 'Dee' Delgado/Bloomberg
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Brookfield Asset Management Inc.’s New York-based real estate unit is seeking to raise $1 billion for a fund that would take advantage of generous new tax breaks available to investors in low-income U.S. communities, according to people familiar with the matter.
The fund plans to invest in six projects in designated opportunity zones, including residential developments in Brooklyn and the Bronx, and a shopping center in Connecticut, said the people, who asked not to be identified discussing the private effort.