Brookfield's Real Estate Chief Ben Brown Weighs In on REITs, Housing, Office Markets, and Hospitality

July 14, 2026 - 17:49

Ben Brown, the head of real estate at Brookfield Asset Management, recently shared his outlook on several key sectors of the property market, offering a measured but cautiously optimistic view. Speaking in a wide-ranging interview, Brown addressed the current state of REITs, the persistent challenges in housing, the ongoing transformation of office spaces, and the recovery in hospitality.

On REITs, Brown noted that the sector has faced headwinds from rising interest rates but argued that many quality real estate investment trusts are now trading at attractive discounts to their net asset values. He sees potential for a rebound as rate expectations stabilize, though he warned that investors should be selective and focus on companies with strong balance sheets and resilient cash flows.

Turning to housing, Brown highlighted the structural supply shortage that continues to drive prices higher in many markets. He pointed to regulatory hurdles, rising construction costs, and labor shortages as factors that will keep new supply constrained for years. This dynamic, he said, supports the case for rental housing investments, particularly in Sun Belt markets where population growth remains strong.

The office sector remains the most challenged, according to Brown. He acknowledged that hybrid work has permanently reduced demand for traditional office space, but he sees a bifurcation: older, less efficient buildings are struggling, while newer, amenity-rich properties in prime locations are leasing up. Brookfield is focusing on the latter, betting that companies will continue to seek top-tier space to lure workers back.

On hospitality, Brown expressed confidence in a sustained recovery. Leisure travel has rebounded strongly, and business travel is gradually returning. He noted that hotel operators are benefiting from higher room rates and disciplined cost management, though he cautioned that a potential economic slowdown could temper demand.

When asked about the restaurant industry, Brown politely declined to comment on Danny Meyer's new venture, saying only that he prefers to stick to the sectors he knows best.