Brookfield affiliate closes $2.5 bln acquisition of Associated Estates
An affiliate of Brookfield Asset Management has completed its previously-announced acquisition of Associated Estates Realty Corp, a U.S. real estate investment trust with a portfolio of 56 apartment communities containing 15,004 units located in 10 states. The deal was valued at US$2.5 billion, including the assumption of debt. Associated Estates, whose common shares ceased trading on the NYSE and the Nasdaq last week, is now managed by Fairfield Residential Co LLC.
10 August 2015•4 mins read
