Brookfield closes US $3B Brookfield Real Estate Finance Fund V

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By Ted Liu

Brookfield Asset Management Inc. (NYSE: BAM; TSX:BAM.A; EURONEXT:BAMA) has held a final close for Brookfield Real Estate Finance Fund V, L.P. (BREF V) with capital commitments of approximately US $3.0 billion (all figures in US dollar).

Brookfield Private Advisors LLC and KB Investment & Securities Co. Ltd. acted as placement agents for the fund.

BREF V is Brookfield’s fifth commercial real estate finance fund targeting mezzanine debt investments through the origination of financing for high-quality properties predominately in major markets across the U.S.

Brookfield previously raised $1.4 billion and $422 million for Bookfield Real Estate Finance Fund IV (2014) and Brookfield Real Estate Finance Fund III (2012) respectively.

Limited partners of BREF V include a diverse group of 64 institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments, foundations, and family offices.

Brookfield committed $400 million to the fund, aligning its interests with those of the other fund investors.

“We are grateful for the strong support we have received from our investors. This fundraise demonstrates that demand for real estate finance investing continues to grow. We are excited about the opportunities we are seeing for making attractive, risk-adjusted investments,” commented Andrea Balkan, Managing Partner at Brookfield Real Estate Financial Partners.

To date, the Fund has made nine investments, representing aggregate mezzanine lending commitments of approximately $422 million.

photo credit: Brookfield