Real Estate
Brookfield Seeks $15 Billion for Property Fund Despite Woes
- Office owners hit by rising borrowing costs, lower vacancy
- The Canadian firm’s previous property fund raised $17 billion
The main foyer at Brookfield Place in Sydney, Australia.
Photographer: Lisa Maree Williams/BloombergThis article is for subscribers only.
Brookfield Asset Management Ltd. is aiming to raise $15 billion for its fifth flagship real estate fund, less than its previous version, according to people familiar with the matter, as the global property market is roiled by rising borrowing costs.
Brookfield, one of the world’s largest owners of prime office properties, started raising money earlier this year for the new vehicle just months after closing its fourth fund at $17 billion. A spokesperson for the Toronto-based asset manager declined to comment.