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Report: Brookfield eyeing $5B sale of North American industrial RE business

Canada's Brookfield Asset Management Inc. has interviewed banks for the potential sale of its North America-focused industrial property business, Bloomberg News reported, citing unnamed sources.

A sale of commercial property company Brookfield Property Partners LP's IDI Logistics could yield $5 billion for the parent company, according to the report.

In 2017, the now-private GLP Pte. Ltd. acquired IDI Logistics' European counterpart, IDI Gazeley, for $2.8 billion.

IDI Logistics has 33 million square feet of assets under management and another 20 million square feet in its landbank. Previously part of IDI Gazeley, the business changed its name in January.