Brookfield has raised more than $4 billion for its latest commercial real estate debt fund, Brookfield Real Estate Finance Fund VI (BREF VI), exceeding its $3 billion initial target.
A diverse group of nearly 50 LPs committed to BREF VI, including public and private pension plans, labor organizations, endowments and foundations, financial institutions, and insurance companies.
The United States, Canada, Europe, and Asia Pacific are all represented among the investors in the fund.
Brookfield said it committed $400 million to the fund highlighting its longstanding alignment of interests with investors.
Andrea Balkan, Managing Partner who oversees the fund, said, “Our fundraising effort has gone exceptionally well, and we appreciate the strong support we have received from our investors. We have been actively investing and are excited about the opportunities to generate attractive, risk-adjusted returns on real estate debt investments.”
Brookfield said BREF VI continues its real estate debt investment strategy, with a focus on lending against high-quality real estate assets in major U.S. metropolitan markets, and selectively in the U.K. and Europe, at valuations that are below long-term intrinsic value.
To date, the fund has closed on 15 investments, representing aggregate mezzanine lending commitments in excess of $700 million.