MSA Mesa Exploration Corp

Brookfield Real Estate Services Fund (the "Fund") (TSX:BRE.UN) announced today
that it has approved the acquisition from the Fund Manager, Brookfield Real
Estate Services Limited ("the Manager"), of franchise agreements representing 17
real estate offices operating with an estimated 417 REALTORS(R)(1) under the
Royal LePage and La Capitale brands. The acquisitions are to be effective
January 1, 2010.


Based on the network at October 31, 2009, the acquisition would increase the
Fund's network to 15,037 at January 1, 2010.


"Our company began the year facing a real estate market struggling with the
impact of a global recession. As 2009 concludes, Canadian real estate markets
are enjoying a strong recovery and appear poised for healthy growth in 2010. We
are very satisfied with how the business performed during the economic downturn.
In particular, the ability of the Fund's leading brands to continue to grow
during the recession and acquire 17 high quality brokerage contracts was
gratifying.


"The Fund network did suffer some minor agent attrition during the 2008-2009
winter season as less productive practitioners exited the industry or left to
low-cost competitors. That said, our growth initiatives more than compensated
for these small setbacks and succeeded in taking the network over the 15,000
agent mark for the first time.


"As we had predicted, the recovery was initially evident in the entry-level
property segment, driven by first time home buyers who were not burdened by an
existing home and who were attracted by historically low mortgage rates. By the
third quarter, sales activity in the more expensive property categories began to
catch up to the lower priced markets.


"While the most obvious indication of the real estate market's recovery is found
in significantly stronger unit sales figures, home prices began to rise again in
the third quarter. Paradoxically, a tepid recovery from a difficult recession
has contributed to the unusual year-end increase in home prices: fewer Canadians
are listing their homes for sale causing a supply shortage. We believe that this
difficulty with supply will ease and with it will come less upward pressure on
home prices, as the economy shows broader signs of recovery and consumer
confidence improves," said Phil Soper, President and Chief Executive.


Acquisition of Franchise Agreements

Royal LePage Agreements

Under the Royal LePage brand, the Fund will acquire franchise agreements
representing 14 real estate brokerage offices and an estimated 343 REALTORS(R)
for an estimated $4.2 million. These agreements generate an estimated annual
royalty stream of $0.7 million.


As outlined in the Management Services Agreement ("MSA") between the Fund and
the Manager, 80% of the 2009 acquisition price will be paid in January 2010. The
purchase price will be finalized at the end of 2010 in accordance with the MSA.


La Capitale Agreements

Under the La Capitale brand, the Fund will acquire franchise agreements
representing three real estate brokerage offices and an estimated 74 REALTORS(R)
for an estimated $1.0 million. These agreements generate an estimated annual
royalty stream of $0.2 million.


As outlined in the MSA, 80% of the 2009 acquisition price is to be paid in early
January 2010. Under terms negotiated with the Fund's Trustees, the balance of
the purchase price is to be paid in annual installments over the next three
years. In addition, consistent with the Fund's historical approach to
acquisition, some of the La Capital agreements still retained by the Manager for
further development may be presented to the Fund's Trustees for acquisition in
the future.


Funding Through Internal Cash

The total amount due in January 2010 of approximately $4.5 million which
includes applicable taxes, will be settled with cash on hand. The balance will
be settled based on the installments highlighted above upon meeting certain
terms and conditions of the MSA.


December 2009 Distribution

The Brookfield Real Estate Services Fund today declared a cash distribution of
$0.117 per unit for the month of December 2009, payable January 29, 2010, to
unitholders of record on December 31, 2009.


About the Brookfield Real Estate Services Fund

The Fund is a leading provider of services to residential real estate
REALTORS(R). The Fund generates cash flow from franchise royalties and service
fees derived from a national network of real estate brokers and agents in Canada
operating under the Royal LePage, La Capitale Real Estate Network and Johnston &
Daniel brand names. At October 31, 2009, the Fund Network was comprised of
14,620 REALTORS(R). The Fund Network has an approximate 22% share of the
Canadian residential resale real estate market based on transactional dollar
volume. The Fund is a TSX-listed income trust that pays monthly distributions
and trades under the symbol "BRE.UN". The Fund's website address is
www.brookfieldres.com.


(1) REALTOR(R) is a trademark identifying real estate licensees in Canada who
are members of the Canadian Real Estate Association.


Forward-Looking Statements

This news release contains forward-looking information and other
"forward-looking statements". The words such as "should", "will", "continue",
"plan", "believe", "expect", "anticipate", "intend", "estimate" and other
expressions which are predictions of or indicate future events and trends and
which do not relate to historical matters identify forward-looking statements.
Reliance should not be placed on forward-looking statements because they involve
known and unknown risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of the Fund to differ materially
from anticipated future results, performance or achievement expressed or implied
by such forward-looking statements. Factors that could cause actual results to
differ materially from those set forward in the forward-looking statements
include a change in general economic conditions, interest rates, consumer
confidence, the level of residential resale transactions, the average rate of
commissions charged, competition from other traditional real estate brokers or
from discount and/or internet-based real estate alternatives, the availability
of acquisition opportunities and/or the closing of existing real estate offices,
other developments in the residential real estate brokerage industry or the Fund
that reduce the number of and/or royalty revenue from the Fund's REALTORS(R),
our ability to maintain brand equity through the use of trademarks, the
availability of equity and debt financing, a change in tax provisions, and other
risks detailed in the Fund's annual information form which is filed with
securities commissions and posted on SEDAR at www.sedar.com. The Fund undertakes
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law.

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