Canadian real estate giant Brookfield has walked away from several office and retail properties so far in 2023, but the company seems poised to plow about $800M into a multifamily portfolio in San Francisco.
Brookfield and Ballast Investments are teaming up to purchase a bundle of troubled loans tied to apartment properties owned by Veritas Investments, the city’s largest multifamily landlord, the San Francisco Chronicle reported, citing anonymous sources. 
Veritas defaulted on the mortgages tied to some of its San Francisco apartment buildings, resulting in lenders placing those loans on the market. Veritas tried to purchase the loans itself but was unsuccessful.
Acquiring the…