Brookfield Asset Management holds $3b final close

Brookfield Asset Management has held a final close for its Brookfield Real Estate Finance Fund V (BREF V) with aggregate equity commitments of approximately $3 billion.

BREF V is Brookfield’s fifth commercial real estate finance fund targeting mezzanine debt investments through the origination of financing for high-quality properties predominately in major markets across the United States.

Investors in the fund are a diverse group of 64 institutional investors, including public and private pension plans, sovereign wealth funds, financial institutions, endowments, foundations, and family offices. Brookfield committed $400 million to the fund, aligning its interests with those of the other fund investors.

To date, the fund has made nine investments, representing aggregate mezzanine lending commitments of approximately $422 million.