Brookfield: BREX Briggs MF DST
Overview
Briggs & Union is a luxury 490-unit residential community located in Mount Laurel Township, New Jersey, a submarket of the Greater Philadelphia Metro Area. The interests in the DST are intended to qualify for purposes of completing a “like-kind” exchange of property under Section 1031 of the Code.
Key Investment Features
Structure
Delaware Statutory Trust (DST)
Investment Sponsor
Brookfield
Property Type(s)
Multifamily
Location(s)
NJ
Occupancy
95.10%
721 Exchange / UPREIT
Required
Minimum Investment
$100,000
Investment Strategy
Buy & Hold
Year 1 Yield
4.65%
In-Place Loan
50.34% LTV
Avg. Remaining Lease Term
N/A
Cash Flow Forecast
Year 1
Year 2
Year 3
Year 4
4.65%
4.93%
Sold
Sold
Year 5
Year 6
Year 7
Year 8
Sold
Sold
Sold
Sold
Year 9
Year 10
Sold
Sold
Investment Highlights
Brookfield is a prominent institutional sponsor, with a young but already substantial parent REIT for this 721 program.
Brookfield provides a guarantee of the income forecasted for the DST investment.
The Philadelphia–Camden–Wilmington MSA is a Tier 1 employment market with a population of approximately 6.3 million and a broad base of employers in healthcare, education, logistics, finance, and manufacturing, which supports long-term rental housing demand.
The Briggs & Union community is a newer-vintage (2019–2020) Class-A, 490-unit garden-style asset with high-end finishes, extensive amenities, and a 95.1% occupancy rate as of May 2025.
Advantages
Brookfield is a leading global alternative asset manager with approximately $1 trillion of AUM across real estate, infrastructure, renewable power, private equity, and credit.
Brookfield provides a guarantee of the income forecasted for the DST investment.
Weaknesses
The Philadelphia MSA, while large and diverse, is not projected to experience above-average population growth compared to faster-growing Sunbelt markets, which could limit long-term rent growth potential.
New Jersey is decisively one of the least landlord-friendly states in the U.S. Its policy environment is heavily weighted toward protecting tenant rights, limiting eviction flexibility, and imposing significant financial and procedural burdens on property owners.