BROOKFIELD REAL ESTATE INCOME TRUST INC.

CIK:0001713407|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Rental revenues	$ 37,375	$ 32,261	$ 70,627	$ 65,216
Other revenues	4,282	3,976	7,304	6,541
Total Revenues	41,657	36,237	77,931	71,757
Expenses
Rental property operating	15,368	13,648	29,888	27,268
General and administrative	1,535	2,018	3,630	3,563
Management fee	3,371	3,099	6,665	6,290
Depreciation and amortization	14,488	13,133	28,550	26,269
Total Expenses	34,762	31,898	68,733	63,390
Other Income (Expense)
Income from real estate-related loans and securities	2,024	5,260	4,389	9,349
Interest expense	(16,331)	(14,824)	(30,339)	(29,348)
Gain from unconsolidated entities	6,920	4,523	13,604	13,641
Other income, net	1,699	238	3,215	458
Total Other Expense	(5,688)	(4,803)	(9,131)	(5,900)
Net Income (Loss)	1,207	(464)	67	2,467
Net income attributable to non-controlling interests - preferred stockholders	(77)	(77)	(77)	(77)
Net income attributable to non-controlling interests in consolidated joint ventures	(1,991)	(297)	(3,390)	(417)
Net income attributable to redeemable non-controlling interests	0	251	3	(559)
Net loss attributable to non-controlling interests in the Operating Partnership	15	0	57	0
Net (Loss) Income Attributable to Brookfield REIT Stockholders	$ (846)	$ (587)	$ (3,340)	$ 1,414
Net loss per share of common stock - basic (in dollars per share)	$ (0.01)	$ (0.01)	$ (0.04)	$ 0.02
Net loss per share of common stock - diluted (in dollars per share)	$ (0.01)	$ (0.01)	$ (0.04)	$ 0.02
Weighted average number of shares outstanding, basic (in shares)	91,417,000	67,538,000	92,034,000	68,519,000
Weighted average number of shares outstanding, diluted (in shares)	91,417,000	67,538,000	92,034,000	68,519,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 67	$ 2,467
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	28,550	26,269
Management fees	6,665	6,290
Amortization of above and below market leases and lease inducements, net	(659)	(663)
Provision for current expected credit (benefit) loss	(664)	0
Amortization of restricted stock grants	179	161
Amortization of deferred financing costs	1,025	947
Amortization of upfront derivative acquisition costs	407	549
Realized gain on sale of Treasury Bonds	(844)	(749)
Paid-in-kind interest	(248)	(458)
Realized loss on sale of derivatives	61	0
Realized gain on investments in real estate-related loans and securities	(235)	(87)
Unrealized gain on investments	(15,750)	(13,595)
Distributions of earnings from unconsolidated entities	0	1,524
Changes in assets and liabilities:
Increase in lease inducements and origination costs	(40)	(230)
Upfront derivative acquisition costs	(1,336)	(193)
Payments for settlement of derivative contracts	(10,610)	0
Proceeds from settlement of derivative contracts	10,549	0
Decrease (increase) in other assets	320	(795)
(Increase) in accounts receivable	(855)	(1,439)
Increase in accounts payable, accrued expenses and other liabilities	3,835	172
(Decrease) increase in due to affiliates	(1,448)	1,773
Net cash provided by operating activities	18,969	21,943
Cash flows from investing activities
Acquisitions of real estate	(246,411)	0
Investments in unconsolidated entities	87,355	0
Proceeds from partial sale of investments in unconsolidated entities	1,018	0
Purchases of real estate-related loans and securities	20,870	141,404
Funding of real estate-related loan commitments	0	(5,775)
Proceeds from sale of real estate-related loans and securities	25,884	0
Proceeds from principal repayments of real estate-related loans and securities	11,903	3,283
Capital improvements to real estate	(3,652)	(3,610)
Purchases of trading securities	(83,301)	(276,693)
Proceeds from sale of trading securities	158,450	255,501
Net cash used in investing activities	(244,334)	(168,698)
Cash flows from financing activities:
Borrowings from mortgage loans	123,000	85,700
Borrowings from secured credit facility	0	109,300
Borrowings from affiliate line of credit	125,000	0
Repayment of mortgage loans	(540)	(26,771)
Repayment of affiliate line of credit	(22,500)	(12,790)
Payment of deferred financing costs	(3,051)	(3,058)
Proceeds from issuance of common stock	12,564	209,130
Repayment of secured credit facility	0	(144,485)
Repurchases of common stock	(56,231)	(72,936)
Subscriptions received in advance	1,952	931
Payment of organizational and offering costs	(2,870)	(3,514)
Distributions to non-controlling interests	(3,678)	(756)
Contributions from non-controlling interests	87,574	34,908
Distributions	(15,683)	(15,921)
Distributions to non-controlling interests attributable to OP Unitholders	650	0
Distributions to non-controlling interests attributable to preferred stockholders	(77)	(77)
Net cash provided by financing activities	244,810	159,661
Net change in cash and cash-equivalents and restricted cash	19,445	12,906
Cash and cash-equivalents and restricted cash, beginning of period	46,445	24,307
Cash and cash-equivalents and restricted cash, end of period	65,890	37,213
Cash and cash equivalents	53,307	25,397
Restricted cash	12,583	11,816
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Total	65,890	37,213
Supplemental disclosures:
Interest paid	28,731	27,849
Non-cash investing and financing activities:
Accrued stockholder servicing fee due to affiliate	(1,066)	(906)
Accrued offering costs	75	740
Accrued capital improvements	0	221
Accrued repurchases of common stock in accounts payable	8,848	0
Accrued repurchases of common stock in due to affiliates	3,368	0
Accrued Distributions	(1,410)	0
Payable for unsettled purchase of trading securities	$ 16,544	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Investments in real estate, net	$ 1,795,320	$ 1,583,386
Total investments in real estate-related loans and securities	84,646	101,053
Investments in unconsolidated entities	267,287	167,788
Intangible assets, net	50,416	31,669
Cash and cash equivalents	53,307	35,147
Restricted cash	12,583	11,298
Accounts and other receivables	12,541	11,691
Other assets	24,839	88,505
Total Assets	2,300,939	2,030,537
Liabilities and Equity
Mortgage loans and secured credit facilities, net	1,223,980	1,103,507
Affiliate line of credit	102,500	0
Due to affiliates	21,630	26,836
Intangible liabilities, net	32,166	23,444
Accounts payable, accrued expenses and other liabilities	56,590	42,851
Subscriptions received in advance	1,952	370
Total Liabilities	1,438,818	1,197,008
Commitments and contingencies	0	0
Redeemable non-controlling interests attributable to OP unitholders	1,015	960
Stockholders’ Equity
Preferred stock, $0.01 par value per share, 50,000 shares authorized; no shares issued nor outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in capital	1,029,694	1,053,490
Accumulated deficit and cumulative distributions	(384,847)	(350,514)
Total Stockholders’ Equity	645,686	703,842
Non-controlling interests in consolidated joint ventures	199,304	112,018
Non-controlling interests attributable to preferred shareholders	625	625
Non-controlling interests attributable to OP unitholders	15,491	16,084
Total Equity	861,106	832,569
Total Liabilities and Equity	2,300,939	2,030,537
Variable Interest Entity, Primary Beneficiary
Assets
Total Assets	779,800	526,300
Liabilities and Equity
Total Liabilities	462,000	329,000
Common Stock Class S
Stockholders’ Equity
Common stock	227	250
Common Stock Class I
Stockholders’ Equity
Common stock	578	574
Common Stock Class T
Stockholders’ Equity
Common stock	0	0
Common Stock Class D
Stockholders’ Equity
Common stock	1	1
Common Stock Class C
Stockholders’ Equity
Common stock	33	41
Common Stock Class E
Stockholders’ Equity
Common stock	$ 0	$ 0