Ben Brown

What did your year look like from an investment versus divestment standpoint? 

It has been an incredibly active year for us, maybe even more than we expected. We had a successful close of our most recent global flagship fund totaling over $17 billion for the strategy. That has given us a great foundation for new investments, which will total over $7 billion of acquisitions this year globally, and, likely surprising to many, we have had one of our most active disposition years on record with what will be roughly $17 billion of transactions. 

While we have been active in all sectors and geographies, we have been particularly busy acquiring housing assets at great value. Meanwhile, we have achieved roughly $28 billion in real estate financings already this year, including more than $19 billion in the Americas alone. 

Where do you see Manhattan West in a few years in terms of leasing and where it fits in within the larger market? 

Today, the Manhattan West office space is nearly fully leased at top-of-the-market rents, the Eugene apartment building remains leased and in-demand, the Pendry hotel is one of the hottest luxury boutique hotels in New York, and we boast not one but two of the best-
performing (and also just best) restaurants in the city. 

Manhattan West is a prime example of a thriving, well-designed mixed-use development success story, and there is every indication that it will continue to be one of New York’s most exciting and sought-after neighborhoods for many years to come.

How have Brookfield’s overseas investment strategies changed with some of the new policies coming out of Washington? 

We pay attention to geopolitical events and government policy in the U.S. and globally, of course, but our real estate investment strategies are steady, long-term and, generally, not dictated by near-term changes or headlines. We continue to be active in markets around the world.

What federal, state and local policies would best aid commercial real estate right now?  

The U.S. should revoke discriminatory Foreign Investment in Real Property Tax Act rules that deter healthy and appropriate capital investment from outside the country. 

Lighting Round:

Mamdani, Cuomo, Adams — Friend, mute, unfollow?
Good luck unfollowing the mayor. We will work with the winner and root for New York City. 

Borrowing costs up or down by late 2026?
Down.

More excited about — interest rate cut or Taylor Swift’s engagement?
Is this a trick question?

Last vacation and where?
Tuscany for my wife’s birthday in May.

Like in ‘Freaky Friday’ you swap bodies with Jerome Powell. What would you do?
Step one: Find Ben Brown.

What’s your kryptonite?
My daughters asking me for something after their mom has said no.

How are the tariffs going to affect your Thanksgiving shopping?
Won’t. 

If Stephen Starr asked you which restaurant he should next reopen, what would it be?
I don’t know, but I’ve got a great spot for it.