Brookfield buys US REIT Forest City Realty for $11.4bn

8 Spruce St Forest City

Brookfield Asset Management has agreed a deal to buy US real estate investment trust Forest City Realty Trust for $11.4bn (£8.7bn) through one of its real estate investment funds.

The fund will buy all of Forest City’s shares for $25.35 each in a deal which, including debt, values the REIT at $11.4bn at a 26.6% premium to Forest City’s share price before market speculation of a deal began in June.

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