Brookfield Property Partners has increased investment in its retail business despite rising vacancy rates and falling rents. Real estate head Ric Clark said the Canadian company, which is redeveloping seven malls, believes the sector is repositioning and going through a period of capital investment. Also, he said Brookfield had decided against building a co-working business in favour of partnering with other companies in the sector or acquiring one. Earlier this year, IWG and Onex walked away from discussions on buying co-working giant Brookfield Asset Management without making a formal bid.
Brookfield Property Partners has increased investment in its retail business despite rising vacancy rates and falling rents. Real estate head Ric Clark said the Canadian company, which is redeveloping seven malls, believes the sector is repositioning and going through a period of capital investment. Also, he said Brookfield had decided against building a co-working business in favour of partnering with other companies in the sector or acquiring one. Earlier this year, Brookfield Asset Management and Onex walked away from discussions on buying co-working giant IWG without making a formal bid.