SAO PAULO, Sept 11 (Reuters) - Canadian asset manager

Brookfield is exiting the shopping mall sector in

Brazil to concentrate its local real estate holdings in offices,

apartment buildings and logistics, three people familiar with

the matter told Reuters.

Earlier this year, Brookfield sold its controlling stake in

Rio de Janeiro's Shopping Rio Sul and is now seeking buyers for

its majority stakes in two São Paulo malls, Patio Paulista and

Patio Higienópolis.

Brookfield aims to raise around 3 billion reais ($534

million) from the sales, said one of the sources, who requested

anonymity to discuss negotiations. The goal is to complete both

- together or separately - by early 2025, a second source said.

Brookfield has hired investment banks Bradesco BBI and BTG

Pactual to conduct the sales. The planned sales were first

reported by business news website Brazil Journal.

Brookfield and Bradesco BBI declined to comment. BTG Pactual

did not reply to a request for comment.

Brookfield, with approximately $1 trillion in assets in over

30 countries, has its origins in a utility company founded in

1899 in São Paulo.

The asset management firm is still present in several

Brazilian sectors, including renewable power, infrastructure,

private equity and real estate, with close to 200 billion reais

under management locally.

Brookfield's largest real estate holdings in Brazil are in

corporate office, but it has invested recently in logistics

parks, supported by booming e-commerce, and apartment rentals,

which have expanded amid high financing costs for home

purchases, according to a company prospectus.

The firm has invested since the 1980s in Brazilian malls,

which have rebounded quickly from pandemic-era restrictions.

While online retail has battered the mall sector in some

countries, Brazilian malls continue to attract shoppers as a

safe, family-friendly destination in a country with

long-standing public security issues, said Tadeu Masano, a

retail consultant and former professor at Fundação Getúlio

Vargas.

Brookfield decided to sell its Rio de Janeiro and São Paulo

malls because it considers that both investments are now mature,

according to the first two sources.

($1 = 5.6198 reais)