Market Chatter: Brookfield Asset Management Fund Buys US Student Housing Properties for $893 Million

MT Newswires Live12-11

A Brookfield Asset Management (BAM) property fund bought student housing properties in the US for $893 million, 36% lower than the cost of replacing the properties and a 19% discount to recent trades, Bloomberg reported Tuesday, citing a company spokesperson.

The 14 properties, with a total of about 8,700 beds, serve schools such as Texas A&M University, Dartmouth College and Indiana University, the report said.

Brookfield didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 57.35, Change: -0.05, Percent Change: -0.09

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