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Brookfield/InterRent REIT/CLV JV to develop Ontario mixed-use asset

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Brookfield/InterRent REIT/CLV JV to develop Ontario mixed-use asset

A three-way joint venture among Canadian companies Brookfield Asset Management Inc., InterRent Real Estate Investment Trust and CLV Group Inc. will develop a mixed-use project in Burlington, Ontario.

The multi-phase Burlington GO Lands development will include residential, retail and amenity space, with construction to begin after necessary approvals have been secured. The three land parcels for the project were sourced and assembled by CLV.

Brookfield, through its property arm, will own 50% of the venture, while InterRent and CLV will each own a 25% interest. The REIT will provide property management and residential leasing services, and CLV will provide planning, entitlement and development management services.