Fundraising - DECEMBER 7, 2017

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Brookfield raises $456m for U.S. multifamily fund

by Jody Barhanovich

Brookfield Asset Management has raised $456 million for its third U.S. multifamily real estate fund, according to a filing with the SEC. The firm did not comment on its fundraising efforts.

The firm launched Brookfield Fairfield U.S. Multifamily Value Add Fund III in late 2016. The value-added, closed-end real estate fund seeks to make investments in apartment properties in major markets throughout the United States. An equity fundraising target has yet to be announced.

The fund’s predecessor, Brookfield Fairfield U.S. Multifamily Value Add Fund II, held an $805 million final close in September 2014.

The fundraise follows Brookfield’s recent final close for its fifth commercial real estate finance

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