Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Brookfield Asset Management CEO Bruce Flatt (Fred Lum)
Brookfield Asset Management CEO Bruce Flatt (Fred Lum)

Commercial real estate has bottomed: Brookfield Add to ...

Commercial real estate markets have hit bottom and will recover better than expected, says the chief executive officer of Brookfield Asset Management Inc.

"Real estate didn't get into trouble, real estate financing did," said Bruce Flatt at the asset management company's annual general meeting on Wednesday.

While almost a trillion dollars of mortgages come due in the next five years in North America, the money will be available in most cases, he said.

"The numbers are far over-stated," he said. "There will be instances where there was too much leverage and that won't be fun, but they won't be the kind of situations that will cause a lot of issues in the capital markets."

More to come

Report Typo/Error

Follow us on Twitter: @GlobeBusiness


More Related to this Story

Next story




Most popular videos »

More from The Globe and Mail

Most popular