Ben Brown

Ben Brown

Managing Partner at Brookfield Real Estate

Ben Brown
By May 10, 2024 9:00 AM

Where is Brookfield going to be in 2026? In 2028? In 2033?

In the near term, some of the biggest concerns about the market today play to our strengths.  Our investment strategies are positively correlated with inflation. Interest rates matter, but we invest across global businesses that generate resilient and growing free cash flows that help insulate us. And our access to diverse sources of capital at scale enables us to execute transactions that few others can match. Medium term, we expect our total assets under management, today at $850 billion, to grow to roughly $2 trillion over the next five years.

Tell us about a successful financing you’ve done in the last 12 months. Or tell us about an unsuccessful one. 

So far this year, we have financed 124 deals totaling $18.4 billion. One example: In August, we achieved a $581 million (AU$920 million) refinancing of the two iconic office towers at Brookfield Place Perth, Australia, a major mixed-use complex in the heart of the city.

When will we know the market has stabilized?

Stay alive to ’25.

How do you think the 2024 presidential campaign will impact the commercial real estate market?

Anything that impacts how we navigate the macro economy matters.

If you were to invest your own money in someone else’s real estate, who do you like and why?

I hear very good things about Oaktree Capital Management.

What business advice are you most tired of hearing?

I’m not grumpy enough to tire of advice. Whether or not I take it all …

What’s the biggest market opportunity as we round out 2023?

Private credit. The lack of traditional banks and overall debt liquidity makes this a fantastic environment on a risk/return spectrum for private credit.

Have you had a lot of staff turnover?

None.

 

Do you feel personally safe moving through NYC? Yes.

Jerome Powell: Are you a fan or critic? Critical fan.

Can’t-live-without technology now? VTS.

Elon Musk is …? Not boring.

Taylor Swift or Beyoncé? Yes.

Artificial intelligence — good or bad? Both, of course, but I’m an optimist.

Mischa’s or Nathan’s for a hot dog? Haven’t had Mischa’s. Can’t go wrong with Nathan’s.

Netflix or Hulu? I have two daughters. Definite yes.

What character are you in “Succession”? One of the flawed ones.