$323M Brookfield Fund To Focus On US Rental Properties

Law360, New York (September 25, 2012, 5:57 PM EDT) -- Global real estate heavyweight Brookfield Asset Management Inc. on Tuesday closed a new $323 million private investment fund that targets undervalued or underperforming multifamily apartment properties in the U.S., banking on rental growth as the home ownership market continues to languish.

The Brookfield Fairfield U.S. Multifamily Value Add Fund launched with a $250 million target but in past months has been getting increased attention from institutional investors, according to the Toronto-based Brookfield, which kicked in $50 million to the new property investment vehicle.

"We believe that...
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