Brookfield Asset Management forms joint venture with U.S. REIT Healthpeak Properties

Brookfield Place signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. THE CANADIAN PRESS/Andrew Lahodynskyj

TORONTO — Brookfield Asset Management has signed a deal with Healthpeak Properties Inc. to form a joint venture invested in outpatient medical buildings in the U.S.

Brookfield and its affiliates own a 49 per cent stake in the venture, while Healthpeak holds a 51 per cent controlling interest and serves as managing member.

Under the agreement, Healthpeak contributed a portfolio of 86 properties, valued at a total of about US$2.1 billion.

• Latest updates on company news here

The real estate trust received gross proceeds of about $1.03 billion for the 49 per cent stake.

The portfolio spans 11 states, including Kentucky, Indiana, Pennsylvania, Arkansas, Illinois, Minnesota, New Jersey and New York.

It is 95 per cent leased with a weighted average remaining lease term of six years.

---

This report by The Canadian Press was first published July 20, 2026.