Key facts
- Brookfield Properties has officially changed its name to BGRE.
- The rebrand is effective immediately and supports global expansion efforts.
- BGRE manages over 330 million square feet across more than 1,400 properties worldwide.
- The company is the commercial real estate arm of Brookfield Asset Management.
- BGRE has been strategically selling U.S. office assets while increasing international investments.
Brookfield Properties, a significant global real estate owner, has officially changed its name to BGRE as part of a strategic global expansion. The rebrand, effective immediately, is intended to define the company's market-facing approach without altering its operations or personnel. The new name, BGRE, is not an initialism and signifies a new chapter while upholding the company's 70-year legacy of values and long-term perspective.
BGRE manages a vast portfolio exceeding 330 million square feet of office, logistics, hospitality, retail, and residential space across more than 1,400 properties worldwide, employing over 2,000 people. The firm operates as the commercial real estate subsidiary of Brookfield Asset Management, which oversees more than $1 trillion in assets, and is ultimately a subsidiary of Canadian parent company Brookfield Corp.
In recent years, BGRE has shifted its strategy, divesting parts of its U.S. office portfolio while actively expanding its international presence. Ankur Gupta, Deputy Chief Investment Officer at BAM, previously indicated an ambition to triple the company's real estate assets under management in the Asia-Pacific and Middle East regions within five years, where it held $40 billion in AUM. Deal activity in Asia has reportedly tripled in the past two years, averaging $10 billion to $15 billion annually.
Recent international ventures include a joint venture with Alshaya Group announced in May to develop a 480,000-square-foot mixed-use complex in Dubai Hills. Concurrently, BGRE continues to explore opportunities in the office sector, reportedly considering a 10% stake in a 6.2 million-square-foot Manhattan office campus valued at $3.5 billion.