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Report: Brookfield mulling sale of up to $10B of US office properties

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Report: Brookfield mulling sale of up to $10B of US office properties

Brookfield Property Partners LP is exploring the option of off-loading a stake in its northeastern U.S. office portfolio that could value the portfolio at up to $10 billion, Reuters reported, citing people privy to the matter.

The sale would aid the company in settling a significant amount of debt, paving the way for the potential separation of the portfolio into an independent publicly traded real estate investment trust in the future, the unnamed sources added.

However, a deal is not guaranteed, and the company has not yet initiated a sales process, the sources noted, adding that the sale could garner interest from sovereign wealth funds and investment firms.

Brookfield Property did not offer a comment on the matter, according to Reuters.