Brookfield Asset Management has entered a new joint venture with Varia US Properties AG covering 13 multifamily properties across nine U.S. states, involving assets valued at about US$694 million. The company's shares trade at about CA$71.10, with a 30-day return of 8.24% and a 90-day return of 7.32%, while the three-year total shareholder return stands at 75.79% against a one-year decline of 10.16%. The most followed valuation narrative pegs fair value near CA$80.24, implying the stock is about 11.4% undervalued, though it trades at 29.4 times earnings versus the Canadian Capital Markets industry average of 7.4 times.
Brookfield Asset Management Ltd.Brookfield enters a US$694 million US property joint venture, expanding its real estate portfolio.
Varia US Properties LtdVaria US Properties AG partners with Brookfield in a joint venture covering 13 multifamily properties, enhancing its asset base.
