In April, the real estate sector witnessed a sharp decline in rental income with only 10% to 20% of mall retailers paying their rents according to CBRE estimate.
Forecast for real estate market
Experts believe that the realty market will take months to recover. Even the strongest sectors like warehouses and shops and hospitality sector requires from 12 to 36 months in recovering. But some largest property owners of the world have big plans to make a comeback.
Brookfield making a huge investment
In early May, Brookfield Asset Management announced that it was mulling to invest $5 billion in realty. It owns 152 million sq. ft. of retail space and approximately 300 million of space including apartments, hotels and offices. The company said that it was looking for partners that can draw on its capital and expertise to stabilize and grow Brookfield’s business.
Last year, Brookfield Asset Management made most assets ($324 billion), accrued highest revenues ($69 billion), reported second-highest profit ($2.8 billion) and became the fourth-highest market cap ($51 billion). And with these figures, Brookfield became the biggest public real estate investment company on … Read the rest