Brookfield Bets on Single-Family Rentals With $300 Million Fund

Brookfield Asset Management Inc. is the latest Wall Street giant to plant its flag on Main Street lawns.

Brookfield recently acquired a controlling stake in single-family landlord Conrex, which operates more than 10,000 rental homes across the Midwest and Southeastern U.S., according to people familiar with the matter who asked not to be named because the transaction isn’t public.

In addition, Brookfield has raised $300 million, including some of its own capital, for a vehicle called Brookfield Single Family Rental that will acquire and renovate homes. The firm intends to leverage the Conrex platform for that effort, one ...