Brookfield Incorporacoes, the Brazilian real estate unit of Canada's Brookfield Asset Management (BAMa.TO)(BAM.N), 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.
Brookfield Incorporacoes' (BISA3.SA) media relations department did not immediately return a call seeking comment on the newspaper report.
Brazilian real estate companies, which were among the most active in stock offerings in the boom years 2006-2007, have started a new phase of share sales with nearly 3 billion reais in capital-raising plans, the daily 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. ($1=1.842 reais) (Reporting by Elzio Barreto; editing by John Wallace)