HOUSTON-Brookfield AssetManagement has closed on the $886-millionacquisition of Verde Realty. Thismeans that an investment vehicle controlled by the assetmanager will be responsible for approximately 81% of thecommon equity in Verde. The remainder will be controlled by presentVerde shareholders.
"Verde is a scalable, cornerstone investment in the industrialproperty sector that positions Brookfield to expand its real estateplatform into the logistics arena to capitalize on the evolvingglobal supply chain," said David Arthur, managing partner atBrookfield Asset Management, in a company statement.
Currently, Verde owns 111 industrial propertiesthat span 18 million square feet of space. These properties lie inmajor US distribution markets and gateway trade markets along theMexican border.
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