Brookfield CEO Seeks to Reassure on Property After Defaults
- Flatt says defaults not material to huge real estate business
- ‘Our reputation in the capital markets sets us apart,’ he says
Bruce Flatt.
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Brookfield Corp. Chief Executive Officer Bruce Flatt sought to quell investor concerns about commercial real estate, saying its properties are soundly financed and that higher interest rates will have little adverse impact.
The alternative-asset manager defaulted on mortgages on office buildings in Los Angeles and around Washington, but Flatt said the problems are “discrete to those assets” and not material to the Toronto-based firm’s huge real estate business.