Brookfield REIT Acquires Boston-Area Distribution Facility for $155 Million
Brookfield Real Estate Income Trust Inc., a publicly registered nontraded real estate investment trust formerly known as Oaktree Real Estate Income Trust, acquired 34 Market Street — a 222,000-square-foot Class A warehouse and distribution facility in Everett, Mass., less than five miles from downtown Boston — for approximately $155 million.
The asset is fully triple-net leased to an investment-grade tenant, with 12 years of remaining lease term.
The REIT also declared its total net asset value and NAV per share for its classes of common stock as of March 31, 2026. The company’s total NAV was approximately $954.6 million, a 0.86% decrease from the prior month’s $962.9 million.
Class S reported a NAV per share of $10.2547, down from $10.259 the prior month.
Class I reported a NAV per share of $10.3689, down from $10.3726 the prior month.
Class D reported a NAV per share of $10.4652, down from $10.4681 the prior month.
Class T reported a NAV per share of $10.456, essentially unchanged from $10.4565 the prior month.
Shares were originally priced at $10.00 each, plus applicable upfront selling commissions and dealer manager fees.
As of the end of March, Brookfield’s portfolio consisted of 90% real estate properties and 10% real estate-related loans and securities. The real estate properties consisted of multifamily (44%), net lease (20%), logistics (20%), single-family rental (9%), student housing (5%) and office (2%).
The REIT is currently offering on a continuous basis up to $7.5 billion in shares of common stock, consisting of $6 billion in its primary offering and $1.5 billion pursuant to its distribution reinvestment plan. As of April 15, the company had issued and sold approximately 1.23 million shares in the primary offering for total proceeds of approximately $12.68 million, and 728,247 shares pursuant to the distribution reinvestment plan for a total value of approximately $7.55 million.
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