Brookfield and Fairfield Residential Close $1 Billion U.S. Multifamily Value Fund as Investors Focus on Renovation Returns

In January, Brookfield Fairfield U.S. Multifamily Value Add Fund III acquired Waterstone at Corona Pointe, a 628-unit complex in Corona, California, for $136.5 million. Brookfield Asset Management Inc. and Fairfield Residential marked the final closing on their Brookfield Fairfield U.S. Multifamily Value Add Fund III with total equity commitments raised of $1 billion, another sign of investor demand for U.S. apartments that can be refurbished to...