Varia US Properties AG VARN

Brookfield Asset Management (TSX:BAM) has launched a US$694 million multifamily joint venture with SWI and Varia US Properties AG, focused on 13 properties across nine US states. The partnership targets repositioning existing assets and pursuing asset sales as part of a refreshed US real estate approach. The move expands Brookfield Asset Management's US rental housing exposure during a period of volatile capital markets. Readers looking for more ideas in resilient real estate and income...

Brookfield and SWI launched a $694M multifamily JV to reposition 13 US properties and target $500M in sales over three years.

The $694 million joint venture allows Varia to unlock substantial liquidity, improve its balance sheet and gain greater flexibility in managing the business.

Varia US Properties AG ("Varia US" or the "Company"), the Swiss-listed investor in the U.S. multifamily sector, externally managed by Stoneweg, an SWI Group Company, has signed a definitive agreement with affiliates of Brookfield Asset Management ("Brookfield") in relation to 13 of Varia's 17-property U.S. multifamily portfolio, through a newly formed USD 693.9 million two-vehicle joint venture.