Brookfield REIT Achieves Total Asset Value of $ 1.5 Billion with Acquisition of DreamWorks Animation Campus, Two Apartment Buildings and Three Logistics Facilities
15-acre DreamWorks facility in Glendale, Calif., Acquired for $ 326.5 million; 445 apartments acquired for 172 million dollars; 500,000 square feet of logistics real estate acquired for $ 71 million
Content of the article
BROOKFIELD NEWS, December 21, 2021 (GLOBE NEWSWIRE) – Brookfield today announced that it has acquired DreamWorks Animation Campus in Glendale, Calif. For $ 326.5 million. The 15-acre, 500,000-square-foot facility, located in Los Angeles’ media district, serves as the headquarters of DreamWorks and includes all of the infrastructure essential for the creation of animated feature films and television series, including production and motion capture studios, green rooms, a commissary and a 165-seat theater. The seven-building campus is home to approximately 1,500 studio employees, including artists, animators, technologists and engineers. DreamWorks has occupied the Facility for over 20 years and its current lease runs until 2035. Brookfield has acquired the Facility through Brookfield Real Estate Investment Trust Inc. (“Brookfield REIT” or “the REIT”).
Advertising
This ad has not yet loaded, but your article continues below.
Content of the article
Also last week, Brookfield REIT completed the acquisition of two luxury apartment buildings totaling 445 units at an aggregate purchase price of $ 172 million:
- Front flats
- Newly constructed 273 unit residential building in the North Waterfront neighborhood of downtown Wilmington, NC, adjoining the new Riverfront Park and close to various lifestyle amenities
- Verso Apartments
- Brand new 172 unit residential building in downtown Beaverton, one of the top suburbs outside of Portland, OR – just 10 minutes from local employers including Nike and Intel
Brookfield REIT also recently acquired over 500,000 square feet of logistics buildings in three individual transactions. Located in major US infill markets, these facilities were acquired at an aggregate purchase price of $ 71 million:
Advertising
This ad has not yet loaded, but your article continues below.
Content of the article
- 6123-6227 Monroe Court
- 208,000 square foot property in the Chicago submarket in Morton Grove, IL
- Fully leased to five tenants with more than six years of weighted average lease term
- 8400 Westphalia Road
- 100,000 square foot property in the Upper Marlboro, MD submarket of Washington, DC
- Fully leased to two tenants with more than six years of weighted average lease term
- McLane Distribution Center
- 211,000 square foot property in Lakeland, Florida, located between Tampa and Orlando
- Fully leased to a single tenant with 10 years of lease term remaining
Zach Vaughan, CEO of Brookfield REIT, said: “With the acquisition of these various assets in addition to the three properties that Brookfield brought to the REIT in November, we nearly tripled the total asset value of the REIT as a result. of the board transition from Oaktree to Brookfield. We are excited to enter the studio and creative real estate industry while partnering with an innovative tenant and applying our deep operational expertise in the apartments and logistics sectors to manage these new properties.
Advertising
This ad has not yet loaded, but your article continues below.
Content of the article
As a result of these new acquisitions, the total asset value of Brookfield REIT has grown to approximately $ 1.5 billion.
Brookfield REIT
Brookfield Real Estate Income Trust Inc. (Brookfield REIT) is an open, unlisted, perpetual real estate investment trust that seeks to invest in a diversified global portfolio of high quality real estate and debt investments. Brookfield REIT is managed externally by a subsidiary of the world’s leading alternative asset manager Brookfield Asset Management Inc. (NYSE: BAM; TSX: BAM.A), one of the world’s largest real estate investors with approximately $ 237 billion of assets under management.
For more information, please visit the Brookfield REIT website at www.brookfieldREIT.com.
MEDIA CONTACT
Kerrie McHugh
Phone. : (212) 618-3469
Email: [email protected]
FINANCIAL ADVISOR CONTACT
Brookfield Oaktree Wealth Management Solutions
Phone. : (855) 777-8001
Email: [email protected]
Brookfield REIT is distributed by Brookfield Oaktree Wealth Solutions LLC (“BOWS”), a registered brokerage and member of the Financial Industry Regulatory Authority, Inc. BOWS is part of the Brookfield Oaktree Wealth Solutions group of Brookfield.
Advertising
This ad has not yet loaded, but your article continues below.
