(Source: Reuters)

Brookfield Incorporacoes, the Brazilian real estate unit of Canada’s Brookfield Asset Management, plans to sell about 600 million reais ($326 million) of stock, Valor Economico newspaper reported, without citing a source for the information.

The unit, formerly known as Brascan Residential Properties, would be the latest real estate developer seeking to benefit from investors’ demand for companies in the sector, Valor said.

The country’s housing market has benefited from record-low interest rates and a $18 billion government program for low-income homes that has helped lift Brazil’s economy out of recession.

Read Elzio Barreto’s full article “Brookfield Brazil plans $326 mln stock sale-report” in Reuters (September 8, 2009).

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