By Noah Buhayar and Scott Deveau
(Bloomberg) Brookfield Asset Management's New York-based real estate unit is seeking to raise $1 billion for a fund that would take advantage of generous new tax breaks available to investors in low-income US communities, according to people familiar with the matter.
The fund plans to invest in six projects in designated opportunity zones, including residential developments in Brooklyn and the Bronx, and a shopping center in Connecticut, said the people, who asked not to be identified discussing the private effort.
A representative for Brookfield declined to comment. Read more