Brookfield Asset Management has agreed to acquire a minority interest in American Real Estate Partners (AREP), a US institutional fund manager and data centre developer. Ben Brown, co-president of Brookfield’s real estate group, said the firm is in the early stages of a multi-decade buildout of physical infrastructure required for AI. He described AREP as a strong, synergistic partner with institutional quality data center development capabilities and aligned goals across digital and power sectors.

AREP runs a vertically integrated platform spanning acquisition, development, leasing, and asset management. The Greater Washington, DC-based firm has deployed or committed more than $30bn across major US markets, specializing in data centre, residential, industrial, and office assets. It has acquired over 40 million square feet of Class A real estate and is currently developing more than 32 million square feet of hyperscale data centres across the country.

Brian Katz, co-founder and president of AREP, said the partnership supports the firm’s next chapter of growth, citing Brookfield’s global experience and capabilities.