Brookfield makes $1.5b bid for Belgium’s largest REIT

RE Invest Belgium SA, a fund managed by Brookfield Asset Management has plans to acquire Befimmo SA, one of Belgium’s largest REITs.

The offer values the company at €1.3 billion ($1.5 billion).

“Befimmo has built a high-quality irreplaceable office portfolio in attractive European markets,” said Brad Hyler, managing partner and head of European real estate at Brookfield. “We look forward to working with the management team and the opportunity to combine our global experience of owning and operating premier office real estate with Befimmo’s established operating platform and attractive development pipeline. We are committed to supporting the Company in unlocking its full potential.”