Brookfield Properties pays $1.55B for 23-property, 7,300 unit MF portfolio which includes $135.2M ($200,593/unit) for 674-units in metro Phoenix

  • 6/4/2024

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Phoenix Business Journal

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Vizzda records show Brookfield paid $75.5 million for the 384-unit Terra Vida Apartments in Mesa and another $59.74 million for the 290-unit Meadow Glen Apartments in Glendale. The apartment purchases are part of a nationwide portfolio scooped up by Brookfield. While Brookfield could not be reached for comment, Green Street News said in a May 16 report that Brookfield had agreed to pay $1.55 billion for 23 properties mainly concentrated in Florida and Texas. They average 95% occupancy, according to that report.

Brookfield Asset Management
Alex Elawadi | Managing Partner, Real Estate

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