Brookfield Asset Management has announced the initial close of its first European core-plus real estate, with a total commitment of €725m.
The Brookfield European Real Estate Partnership builds on Brookfield’s strategy of core-plus investments in large, developed regions. BEREP made its first investment in mid-April, acquiring an office in Paris at 42 rue Paradis.
Zachary Vaughan, head of Europe real estate at Brookfield, said: “Evolving market dynamics are creating new opportunities and a substantial pipeline in core-plus real estate throughout Europe.
“This fund, combined with our on-the-ground presence and operations across Europe, should continue to serve us well over the long term.”
Brookfield’s cornerstone investors include a mix of public and private pensions and insurance companies, as well as a commitment from Brookfield Asset Management through Brookfield Property Partners.
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