JULY 24, 2013

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Brookfield closes Strategic Real Estate Partners Fund

by Sara Kassabian

Toronto-based Brookfield Asset Management has surpassed its fundraising target for Brookfield Strategic Real Estate Partners, raising $4.4 billion in a final close.

The opportunistic fund launched in 2011 with a target fundraising goal of $3.5 billion. Brookfield Property Partners invested $1.3 billion of its own capital in the fund, making it a leading investor in the fund.

Brookfield Strategic Real Estate Partners will invest in commercial property globally, with a specific focus on Australia, Brazil, Europe and North America. The fund will acquire properties through direct investment, as well as invest in real estate companies and distressed loans and securities. 

The fund has started to deploy its capital, committing approximately $1.1 billion, or approximately 25 percent the equity, to investments in Thakral Holdings Group, an Australian office and hotel property owner; Verde Realty,

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