Aug 11, 2009. /Lesprom Network/. Brookfield Asset Management, the company that now controls Fraser Papers Inc., wood panel producer Norbord Inc., and Great Lakes Hydro Income Fund, has reported a quarterly net income of $147 million (US), or 24 cents per share, representing a 33% increase over the previous quarter, ForestTalk reported. Brookfield Asset Management plans to continue to scour the market for the next 2 years, acquiring distressed assets and acquisition deals. "We still believe this is one greatest investment periods for these type of assets that we've seen in a long time," said chief executive officer Bruce Flatt. Flatt said the company has spent the past six months buying residential land, and invested $250 million into its U.S. residential business. Right now, the company's assets include Brookfield Place and the Exchange Tower in Toronto, Bankers Hall in Calgary, the World Financial Center in New York and Bank of America Plaza in Los Angeles. Brookfield's massive office property portfolio is 95 per cent occupied.