Brookfield Asset Management, headquartered in Canada, has raised $4.4 billion to invest in commercial real estate globally, with an emphasis on North America, Europe, Brazil, and Australia. buy property in qatar for expats
According to a company statement, Canada's largest alternative asset manager met its $3.5 billion target for the fund, which would allow "opportunistic" commercial property investments.
"We believe we will be investing this fund at a time when high-quality commercial property investment prospects are available at an attractive risk-adjusted basis," said Ric Clark, Brookfield Property Group's senior managing partner.
The company intends to invest in real estate firms, distressed loans, and shares as well as buy land directly. According to the release, Brookfield's investment strategy would center on "acquiring positions of control or power as part of multi-faceted distressed real estate turnarounds or recapitalizations."
With $1.3 billion, the company's Brookfield Property Partners LP unit was the largest investor. Sovereign wealth funds, public and private pension plans, endowments, and high-net-worth individuals from North America, Europe, Asia, and the Middle East are among the fund's other investors, according to the group.
According to the firm, the commercial property fund has already invested $1.1 billion in Thakral Holdings Group, an Australian office and hotel owner; Verde Realty, a U.S. real estate company; and EZW Gazeley Ltd., a European logistics property owner.
Brookfield unveiled an ambitious investment strategy in Asia last month.
The 'Unprecedented' Office Market in Australia.
According to the latest estimates from Jones Lang LaSalle, the vacancy rate in Australia's central business district office market hit 10.9 percent in June, the highest level since June 1999.
Five of the six CBD office markets had vacancy rates in the double digits. Brisbane (14.3%), Adelaide (12.7%), and Canberra (11.6%) all had more job openings in the most recent portion. For the first time in the current cycle, empty space in Sydney (10.2 percent) and Melbourne (10.0 percent) surpassed 10%. Perth's vacancy rate was 7.9%, making it the only CBD office market with a vacancy rate below 10%.
In the paper, JLL's head of capital market analysis, Andrew Ballantyne, said, "There is no precedent for what is happening in Australian office markets." "Investment activity has remained solid, despite the fact that the 2012-13 fiscal year was an annus horribilis for the physical markets."
The nation had a negative net absorption of -191,900 square meters in the 2012-13 fiscal year. This net absorption was lower than the -117,800 square meters recorded during the global financial crisis in the 2008-2009 fiscal year.
According to JLL, subleasing availability improved during the fiscal year, accounting for 75% of the negative net absorption amount.
In Australia, however, there is a distinction between the physical and investment markets.
According to JLL, Australia's office market saw $12.3 billion in transactions in the 2012-13 financial year, with 26 transactions exceeding $100 million. Yields, on the other hand, are negatively affected as vacancies rise.