The new publicly-traded entity will control Brookfield’s fee-generating assets, such as real estate, infrastructure, credit, private equity and renewable energy.
Included are more than 2,000 new-build homes operated by Kairos Living and about 1,000 homes in contract.
The proposal values Duke at $61.68 a share, a 29 percent premium to its closing price on May 9, according to a letter from Prologis CEO Hamid Moghadam.
With $10.8 billion in Canadian real estate assets, Blackstone is moving aggressively to become a bigger player in all property sectors.
Capital costs are rising, but fundamentals remain strong and real estate is also benefiting as a hedge against inflation.
Despite the drop, REITs are outperforming the broader stock market and seem positioned to weather current economic challenges.
New lending volume rose 48 percent year-over-year to $62 billion, according to a survey of 76 major U.K. lenders.
Some potential buyers have already passed on the property. The casino has been offered to private equity firms and other operators.
The European Commission’s proposal would halt property deals with Russian citizens, residents and entities, prohibiting sale or transfer.
