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Canada  + Cross Border News  + Ontario  + Finance  | 
Canada's Brookfield expects to be an active global real estate trader in 2024.

Brookfield Expects to be Active Trader

Canada’s Brookfield Asset Management expects to complete many global real estate investments in 204.

“With interest rates stabilizing and significant dry powder available, we expect a very active period of transaction activity in the coming year, with valuations for real assets responding accordingly,” Connor Teskey, Brookfield’s president, said in a news release Wednesday after the company released its fourth quarter 2024 report.

At year-end 2023, Toronto-based Brookfield had US$107 billion in uncalled fund commitments not currently earning fees. Brookfield expects to earn US$470 million fees annually once the fees are deployed.

The company also holds US$3 billion in cash equivalents on its balance sheet.

In 2023, Brookfield raised US$93 billion in capital, and the company will add about another $50 million once its sale of American Equity Investment Life closes.

“Our capital raising success, combined with investments made into building out our platforms, positions us for strong earnings growth and continued robust fundraising in 2024,” said Teskey.

During the fourth quarter of 2023, the firm deployed US$1.8 billion across its real estate portfolio, investing in logistics, office and multi-family. In real-estate related moves, Brookfield deployed $4.5 billion of capital across its renewable power and transition business segment and $6.3 billion across its Oaktree credit funds.

Brookfield plans to continue its pursuit of debt-saddled properties this year.

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Inside The Story

Brookfield Asset ManagementConnor Teskey

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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  • ◦Financing
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