Brookfield REIT Acquires Two Properties, Reports Decrease in Monthly NAV

Brookfield Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust formerly known as Oaktree Real Estate Income Trust, had a total monthly net asset value of approximately $938.93 million as of May 31, 2024. This was a 1.87% decrease on the month prior ($956.82 million). In May 2024, the REIT acquired two properties: Reflection, a student housing property consisting of 741 beds in Atlanta, for a purchase price of $116 million; and Timber Leaf, a community of 92 single-family rental homes in Birmingham, Ala., for a purchase price of $24.8 million.

The REIT declared a monthly NAV per share for its shares of common stock for the month ended May 31, and reported in the June 13, 2024, supplement.

Class S shares were valued at $11.1726 as of May 31 compared to $11.2146 per share the month prior, an approximate 0.38% decrease.

Class I shares were valued at $11.2698 per share compared to $11.3109 per share the month prior, a 0.36% decrease.

Class D shares were valued at $11.3688 per share, compared to $11.4093 per share the month prior, a 0.36% decrease.

Class T shares were valued at $11.2698 per share, compared to $11.3109 per share the month prior, a 0.36% decrease.

Shares were originally priced at $10.00 each, plus applicable upfront selling commissions and dealer manager fees.

As of May 2024, Brookfield’s portfolio consisted of 82% real estate properties and 18% real estate-related loans and securities. The real estate properties consisted of rental housing (65%), net lease (25%), logistics (6%), and office (4%). Also, there were nearly 83.78 million shares outstanding at the end of May, compared to nearly 85.07 million the previous month.

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