VARN Varia US Properties AG

Brookfield Asset Management (TSX:BAM) has entered a new joint venture with Varia US Properties AG covering 13 multifamily properties across nine U.S. states, involving assets valued at about US$694 million. See our latest analysis for Brookfield Asset Management. At a share price of about CA$71.10, Brookfield Asset Management has seen its 30 day share price return of 8.24% and 90 day share price return of 7.32% partly offset by weaker near term moves. A 3 year total shareholder return of...

Brookfield Asset Management (TSX:BAM) has launched a US$694 million multifamily joint venture with SWI and Varia US Properties AG, focused on 13 properties across nine US states. The partnership targets repositioning existing assets and pursuing asset sales as part of a refreshed US real estate approach. The move expands Brookfield Asset Management's US rental housing exposure during a period of volatile capital markets. Readers looking for more ideas in resilient real estate and income...

Brookfield and SWI launched a $694M multifamily JV to reposition 13 US properties and target $500M in sales over three years.

The $694 million joint venture allows Varia to unlock substantial liquidity, improve its balance sheet and gain greater flexibility in managing the business.