Brookfield Asset Management Inc. has agreed to buy real-estate developer Forest City Realty Trust Inc. in an $11.4 billion deal that further fuels this year’s mergers and acquisitions boom in the commercial property sector.
Toronto-based Brookfield, one of the world’s biggest commercial real estate owners, will pay $25.35 per share for Cleveland based Forest City, which owns 18,500 apartments and over 10 million square feet of office, retail and life sciences space. The price represents a 26.6% premium from Forest city’s...