Varia US Properties, the Swiss-listed company in the U.S. multifamily sector, externally managed by Stoneweg, has entered into a strategic recapitalization with affiliates of Brookfield Asset Management involving 13 U.S. multifamily properties through two newly formed joint venture vehicles valued at approximately $694 million.
The portfolio comprises 4,112 units across nine states.
One vehicle includes four properties totaling 1,060 units and approximately $178 million in gross asset value. Brookfield will hold a 90 percent equity interest, while Varia US will retain 10 percent. Brookfield may also provide up to $200 million in additional equity capital to support future acquisitions.
The second vehicle comprises nine properties totaling 3,052 units and approximately $516 million in gross asset value. Varia US will retain a 60 percent interest, while Brookfield will hold 40 percent.
The partnership is intended to provide Varia US with additional acquisit
