Brookfield Asset Management executives are pointing to more large commercial real estate investments in 2024 as the company continues to raise large amounts of capital.

Company leaders expressed considerable optimism Monday about 2024 during a conference call with reporters and analysts to discuss third quarter financial results. Toronto-based Brookfield expects its flagship real estate fund to raise more than $4 billion.

With $61 billion raised to date, the company’s overall fundraising program is on track to have its largest year ever and remains on pace for $150 billion.

In a letter to shareholders, president Connor Teskey and CEO Bruce Flatt said the opportunistic real estate fund deployed $2 billion, including $400 million on North American logistics, in the third quarter.

“Transaction activity is picking up and 2024 should be one of the best years we have seen in a while for investment,” the two executives wrote.

Last week, Brookfield announced that it raised $6 billion for its Global Infrastructure Debt Fund.