Brookfield Sells $13B in Property as Market Rebounds

Brookfield Asset Management is betting big on real estate again after a three year slump, Bloomberg first reported.

The Canadian investment firm has offloaded $13 billion in real estate in the first half of the year, a sharp increase from $3 billion in the same time period last year, and $2 billion in the first half of 2023. Brookstone said the influx marks a return to normalcy.

“We’re edging back to a more normalized rate of transactions,” Lowell Baron, the new Brookfield CEO, told Bloomberg. “Over the last couple of years, there has been a severe lack of liquidity in the market and there haven’t been larger transactions trading.”

This slow sale volume has led to some fundraising challenges for private equity real estate firms, as existing investors expect returns on capital. But with a 14 percent jump in commercial real estate investment in the first quarter of this year, there are signs that the stagnation is coming to an end.

A few recent transactions point to this shift.

Earlier this month, Brookfield agreed to sell its net lease platform, Fundamental Income Properties, to Starwood Property Trust for approximately $2.2 billion. The Arizona portfolio consists of 467 properties covering a combined 12 million square feet.

Other 2025 deals include the pending sale of Australian senior housing business Aveo for $2.5 billion as well as a $400 million sale of the PGA National Resort and a $175 million sale of a Washington D.C. office building by Brookfield affiliates.

The firm also raised nearly $6 billion for its real estate investment fund in the first quarter of 2025, raising the fund’s total capital to $16 billion.

“When we were out talking to our partners, one of the reasons people were holding back is because they weren’t getting capital back,” Baron told Bloomberg. With sales now accelerating, “we are returning a material amount of capital to our investors and I think it is going to grease the wheels and allow them to allocate to new funds.”

— Quinn Waller