$177m Brookfield buy nudges fund towards $1b.The Brascan Real Estate Opportunity Fund, (BREOF), established by Brookfield Asset Management This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . in 2004, has completed the acquisition of a portfolio of 25 commercial properties, primarily industrial and showroom, in seven major U.S. markets from Developers Diversified Realty for US$177 million. The acquisition takes the fund closer to its $1 billion target size,. The DDR (Double Data Rate) Refers to an SDRAM memory chip that increases performance by doubling the effective data rate of the frontside bus. For more details, see SDRAM. DDR - Double Data Rate Random Access Memory portfolio totals 3.2 million square feet and is comprised of 12 properties in Dallas, TX totaling 1.2 million square feet, five properties in Houston, TX totaling 656,000 square feet, three properties in Norfolk, VA totaling 654,000 square feet, two properties in Phoenix, AZ totaling 293,000 square feet, three properties, one each in Milwaukee, WI, Orlando, FL, and St. Louis, MO, totaling 371,000 square feet. "The acquisition of this large portfolio of properties significantly expands our Fund, bringing the assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. to approximately US$500 million and furthers our strategy of investing opportunistically in North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. real estate", commented David Arthur, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BREOF. "The diverse markets in which these properties are located builds on our recent acquisition of a 900,000 square foot Washington, D.C. portfolio, as well as our existing investments in commercial real estate in Indianapolis and Toronto and our joint venture in U.S. student housing development. "Together, the assets in the Fund provide us with the unique opportunity to put Brookfield Asset Management's real estate platform and expertise to work in leasing and repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. commercial real estate to create value and superior returns." With a target Fund size of $1 billion, BREOF continues to evaluate additional opportunities to acquire and reposition real estate in markets in which Brookfield Asset Management has access to superior market knowledge, or secondary markets with the appropriate risk profile. "Through active management, leasing and refinancing of undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. properties" added Arthur, "we believe we can create enhanced returns for potential institutional investors in the Fund". |
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