The Financial Post reports in its Wednesday edition that Brookfield Asset Management is aiming to raise $15-billion for its fifth flagship real estate fund, less than its previous version, as the global property market is roiled by rising borrowing costs (all figures U.S.). A Bloomberg dispatch to the Post, quoting unnamed sources, says Brookfield, one of the world's largest owners of prime office properties, started raising money earlier this year for the new vehicle just months after closing its fourth fund at $17-billion. Office landlords around the world are being squeezed by higher interest costs, falling property prices and low occupancy rates as employees work from home. Fee-bearing capital in Brookfield's real estate business dipped to $98-billion in March from $103-billion at the end of last year. Brookfield focuses on top-quality office real estate, which will produce better returns over the long run, chief executive officer Bruce Flatt told investors last month. "We have always focused on owning premier real estate in the best locations, which is why 95 per cent of our office portfolio is either trophy or Class A office space that continues to vastly outperform the broader market," he said in a letter.