Latham & Watkins Advises Brookfield in US$1 Billion Acquisition of Divvy Homes’ Property Portfolio and Platform

Divvy Homes and Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, announced they have entered into a definitive agreement whereby a Brookfield private real estate fund will acquire Divvy Homes' property portfolio and platform for a total consideration of approximately US$1 billion. Maymont Homes, Brookfield’s single-family home rental business, will manage the portfolio on an ongoing basis. Brookfield and Maymont’s deep experience with rental residential properties will bring industry leading operations to the management of these homes.

Latham & Watkins LLP represents Brookfield Asset Management in the transaction with a multidisciplinary team led by New York real estate partners Michelle Kelban, Global Co-Chair of the firm’s Real Estate Practice, and Mark Semotiuk, Washington, D.C. counsel Kimberly Lucas with New York real estate associate Jacob Axelrod. Advice was provided on tax matters by Los Angeles partner Ana O’Brien and counsel William Kessler, with associate Arash Lotfi; and on insurance matters by Los Angeles partners Drew Levin and Harrison White.