Canada's Brookfield nearing deal to acquire Berlin complex

Brookfield Asset Management, Canada’s largest alternative asset manager, which last year acquired Thayer Lodging Group, is reportedly nearing a deal to acquire a group of buildings, including hotels, on Berlin’s Potsdamer Platz for about $1.5 billion.

The seller is Frankfurt-based SEB Asset Management AG, which owns the 18 buildings through the SEB ImmoInvest fund that’s in forced liquidation, sources are saying.

The acquisition would be made through Brookfield’s publicly traded subsidiary, Brookfield Property Partners, which unsuccessfuly made a bid for Atlantic City's Revel hotel.

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Potsdamer Platz, as Financial Post reports, is now "dominated by luxury hotels and office towers."

SEB’s stake in the complex includes the Mandala Hotel.

Fosun International and Ping An Insurance were reportedly among the bidders competing to buy the property.

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Tisch joined Loews Hotels & Co in June 2017 from Loews Corp., where he was a VP.