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Brookfield Asset Management unit in talks to buy San Diego developer

The flagship residential arm of Brookfield Asset Management Inc. is in discussions to purchase San Diego real estate developer OliverMcMillan, the Atlanta Business Chronicle reported, citing a statement that the developer gave to the publication.

OliverMcMillan led the redevelopment of the former Streets of Buckhead in Atlanta into the mixed-use The Shops Buckhead Atlanta. The boutique real estate company, however, said the project, which is still under construction though largely built out, is currently not involved in the talks with Brookfield.

According to the report, OliverMcMillan is also planning an office building along Peachtree Road and has worked with Colliers International - Atlanta to attract the interest of prospective tenants in the development. The company could also develop another site at Buckhead and Grandview avenues.