Brookfield weighs US $ 3 billion in the sale of its life sciences real estate portfolio

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Brookfield Asset Management Inc. is considering selling its life sciences real estate portfolio and is looking for around US $ 3 billion, according to people with knowledge of the matter.Toronto-based alternative asset manager works with advisors to sell approximately 2.3 million square feet of life sciences real estate it acquired through its 2018 purchase of Forest City Realty Trust Inc., said the individuals, who requested anonymity because the information is not public.

A representative for Brookfield declined to comment.

Blackstone Group Inc. agreed last week to recapitalize a portfolio of life science buildings from BioMed Realty for $ 14.6 billion, a transaction that will generate $ 6.5 billion in cumulative profits four years after invested in properties.

Life sciences, which includes the fields of pharmaceutical, biotechnology and medical research, is an industry in which most employees cannot work remotely. This stabilized the value of these properties.

Alexandria Real Estate Equities Inc., one of the largest real estate investment trusts holding life sciences properties, fell 2% this year, compared to a 14.6% drop in the Bloomberg US REITs Index .



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