Inside Brookfield’s Billion-Dollar Capital Recycling Play

Brookfield Place

NEW YORK CITY–It has been a busy month for Brookfield Asset Management on the acquisition side  — and, as it turns out, regarding its dispositions as well.

During its quarterly earnings call CEO Brian Kingston told investors that the company is selling a 28% stake in its Manhattan office and multifamily portfolio and plans to sell an additional 7% stake over the remainder of this year for total proceeds of $1.8 billion to Brookfield Property Partners. He also said that one of BPP’s opportunity funds has entered into a contract to sell 112 self storage assets for more than $1.3 billion.