Concert Properties Forms Joint Venture with Brookfield for C$1 Billion Industrial Portfolio

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Concert Properties Ltd. and a Brookfield affiliate have launched a joint venture to manage a C$1 billion industrial portfolio across Canada, encompassing eight fully leased properties.

Concert Properties Ltd. has officially announced the establishment of a joint venture with an affiliate of Brookfield, targeting a substantial Canadian industrial portfolio valued at approximately C$1 billion. This partnership encompasses eight properties, aggregating around 5.3 million square feet, strategically located in major urban centers including Vancouver, Toronto, Calgary, and Ottawa. The portfolio features a diverse array of both single-tenant and multi-tenant industrial properties, all of which are fully leased to a varied group of creditworthy tenants. These properties are also conveniently situated in proximity to essential transportation infrastructures such as highways, airports, and railroads.
Lindsay Brand, Chief Investment Officer of Concert Properties Ltd., expressed enthusiasm about the collaboration, stating, "We are pleased to be partnering with Brookfield, a globally recognized firm with deep expertise and a strong track record in real estate. Concert has a history of building partnerships defined by shared alignment and a long-term view, and this one is no different. Brookfield brings global scale and a disciplined approach to real estate investment, and we are excited about what we can build together."
In a similar vein, Andy Smith, Managing Partner of Real Estate at Brookfield, noted that this investment aligns with the company’s broader strategy focused on high-quality assets situated in supply-constrained markets. He remarked, "Concert has assembled and managed a strong Canadian industrial portfolio, and we are pleased to partner with them on assets that align well with our global logistics strategy. We look forward to working together to create long-term value across the portfolio."
Founded in 1989, Concert Properties is backed by 49 union and management pension plans along with institutional investors, collectively representing over 200,000 Canadians. The company specializes in the development, ownership, and management of various types of real estate, including rental apartments, condominiums, and both industrial and office properties across Canada.
The industrial portfolio involved in this joint venture is managed through Concert Income Properties, which is an open-ended limited partnership fund established in 2016. This fund is dedicated to acquiring, developing, and managing income-generating real estate on behalf of Canadian pension funds and institutional investors. Brookfield Asset Management, recognized as one of the world's largest alternative asset managers, oversees more than $1 trillion in assets across various sectors, including infrastructure, energy, private equity, real estate, and credit.
Brookfield operates on both the New York Stock Exchange and the Toronto Stock Exchange, with its headquarters located in New York. However, a significant portion of its real estate assets retains Canadian origins. The transaction was facilitated with the advisory support of CIBC and CBRE, who acted as consultants for Concert Properties throughout the process.

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