Filed Pursuant to Rule 424(b)(3)

        Registration No. 333-255557

BROOKFIELD REAL ESTATE INCOME TRUST INC.

SUPPLEMENT NO. 4 DATED JULY 17, 2023

TO THE PROSPECTUS DATED APRIL 11, 2023

This prospectus supplement (“Supplement”) is part of and should be read in conjunction with the prospectus of Brookfield Real Estate Income Trust Inc., dated April 11, 2023 (as supplemented to date, the “Prospectus”). Unless otherwise defined herein, capitalized terms used in this Supplement shall have the same meanings as in the Prospectus. References herein to the “Company,” “we,” “us,” or “our” refer to Brookfield Real Estate Income Trust Inc. and its subsidiaries unless the context specifically requires otherwise.

The purposes of this Supplement are as follows:

•to provide updates on our investment portfolio;

•to disclose the transaction price for each class of our common stock sold in this public offering (the “Offering”) as of August 1, 2023;

•to disclose the calculation of our June 30, 2023 net asset value (“NAV”) per share for all share classes; and

•to provide an update on the status of our Offering.

Investment Portfolio Updates

As of June 30, 2023, our portfolio, based on the total asset value of our investments measured at fair value, consisted of 83% real estate properties, 13% real estate-related loans and securities, and the remainder in cash and cash equivalents. As of June 30, 2023, our real estate-related loans and securities consisted of 82 investments with an aggregate fair value of approximately $310 million. As of June 30, 2023, our real estate properties, based on the fair value of our properties, consisted of rental housing (63%), net lease (26%), office (6%) and logistics (5%). Rental housing consists of multifamily and single-family rental.

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August 1, 2023 Transaction Price

The transaction price for each share class of our common stock for subscriptions accepted as of August 1, 2023 (and repurchases as of July 31, 2023) is as follows:

	Transaction Price  (per share)
Class S	$	12.4704
Class I	$	12.5603
Class D	$	12.6073
Class T	$	12.5603

The August 1, 2023transaction price for each of our share classes is equal to such class’s NAV per share as of June 30, 2023. A detailed calculation of the NAV per share is set forth below. The purchase price of our common stock for each share class equals the transaction price of such class, plus applicable upfront selling commissions and dealer manager fees. The repurchase price for each share class equals the transaction price of such class. The transaction price per Class T share is equal to our Class I transaction price since no Class T shares are outstanding.

June 30, 2023 NAV Per Share

NAV per share is calculated in accordance with the valuation guidelines that have been approved by our board of directors. Our NAV per share, which is updated as of the last calendar day of each month, is posted on our website at www.BrookfieldREIT.com and is made available on our toll-free, automated telephone line at (833) 625-7348. Please refer to “Net Asset Value Calculation and Valuation Guidelines” in the Prospectus for important information about how our NAV is determined. We have included a breakdown of the components of total NAV and NAV per share for June 30, 2023 along with the immediately preceding month.

Our total NAV presented in the following tables includes the NAV of our Class S, Class I, Class D, Class T, Class C and Class E shares of common stock, as well as partnership interests in the Operating Partnership held by parties other than the Company. The following table provides a breakdown of the major components of our total NAV as of June 30, 2023 ($ and shares/units in thousands):

Components of NAV	June 30, 2023
Investments in real estate	$	1,756,337
Investments in real estate-related loans and securities	310,305
Investments in unconsolidated entities	79,600
Cash and cash equivalents	49,561
Restricted cash	16,369
Other assets	60,289
Debt obligations	(1,035,137)
Accrued stockholder servicing fees(1)	(328)
Management fee payable	(1,161)
Dividend payable	(5,357)
Subscriptions received in advance	(3,804)
Other liabilities	(54,774)
Non-controlling interests in joint ventures	(20,380)
Net asset value	$	1,151,520
Number of shares/units outstanding	92,163

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(1) Stockholder servicing fees only apply to Class S, Class T and Class D shares. For purposes of NAV, we recognize the stockholder servicing fee as a reduction of NAV on a monthly basis as such fee is paid. Under accounting principles generally accepted in the United States (“GAAP”), we accrue the full cost of the stockholder servicing fee as an offering cost at the time we sell Class S, Class T and Class D shares of our common stock. As of June 30, 2023, we had accrued under GAAP approximately $28.0 million of stockholder servicing fees payable to the Dealer Manager related to the Class S and Class D shares sold (as of June 30, 2023, we had not sold any Class T shares).

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of June 30, 2023 ($ and shares/units in thousands, except per share/unit data):

	Class S Shares		Class I Shares		Class D Shares		Class T Shares		Class C Shares(1)		Class E Shares(1)		Third-party Operating Partnership Units(2)		Total
Net asset value	$	453,813	$	531,682	$	1,648	$	—	$	121,073	$	42,343	$	961	$	1,151,520
Number of shares/units outstanding	36,391		42,330		131		—		9,856		3,378		77		92,163
NAV Per Share/Unit as of June 30, 2023	$	12.4704	$	12.5603	$	12.6073	$	—	$	12.2839	$	12.5345	$	12.5345

(1)	Class C and Class E shares of our common stock are offered to investors pursuant to private offerings.
(2)	Includes the units of the Operating Partnership held by parties other than the Company.

As of June 30, 2023, we had not sold any Class T shares.

Set forth below are the weighted averages of the key assumptions in the discounted cash flow methodology used in the June 30, 2023 valuations, based on property types.

Property Type	Discount Rate	Exit Capitalization Rate
Rental Housing	6.7%	5.2%
Net Lease	6.4%	4.6%
Office	8.3%	6.8%
Logistics	6.7%	5.6%

These assumptions are determined by our independent valuation advisor. A change in these assumptions would impact the calculation of the value of our property investments. For example, assuming all other factors remained unchanged, the changes listed below would result in the following effects on our investment values:

Input	Hypothetical Change	Rental Housing Investment Values	Net Lease Investment Values	Office Investment Values	Logistics Investment Values
Discount Rate	.25% Decrease	2.0%	2.0%	2.1%	2.0%
(weighted average)	.25% Increase	(1.9)%	(2.0)%	(2.0)%	(1.9)%
Exit Capitalization Rate	.25% Decrease	3.1%	3.9%	2.5%	3.0%
(weighted average)	.25% Increase	(2.8)%	(3.3)%	(2.3)%	(2.8)%

The preceding tables do not include recently acquired properties, which are held at cost in accordance with our valuation guidelines.

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The following table provides a breakdown of the major components of our total NAV as of May 31, 2023 ($ and shares/units in thousands):

Components of NAV	May 31, 2023
Investments in real estate	$	1,777,850
Investments in real estate-related loans and securities	314,419
Investments in unconsolidated entities	78,406
Cash and cash equivalents	44,063
Restricted cash	13,819
Other assets	72,568
Debt obligations	(1,034,941)
Accrued stockholder servicing fees(1)	(346)
Management fee payable	(1,202)
Dividend payable	(5,377)
Subscriptions received in advance	(2,136)
Other liabilities	(44,991)
Non-controlling interests in joint ventures	(20,691)
Net asset value	$	1,191,441
Number of shares/units outstanding	93,569

(1) Stockholder servicing fees only apply to Class S, Class T and Class D shares. For purposes of NAV, we recognize the stockholder servicing fee as a reduction of NAV on a monthly basis as such fee is paid. Under GAAP, we accrue the full cost of the stockholder servicing fee as an offering cost at the time we sell Class S, Class T and Class D shares of our common stock. As of May 31, 2023, we had accrued under GAAP approximately $28.6 million of stockholder servicing fees payable to the Dealer Manager related to the Class S and Class D shares sold (as of May 31, 2023, we had not sold any Class T shares).

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of May 31, 2023 ($ and shares/units in thousands, except per share/unit data):

	Class S Shares		Class I Shares		Class D Shares		Class T Shares		Class C Shares(1)		Class E Shares(1)		Third-party Operating Partnership Units(2)		Total
Net asset value	$	464,689	$	557,883	$	1,678	$	—	$	123,277	$	42,940	$	974	$	1,191,441
Number of shares/units outstanding	36,568		43,584		131		—		9,848		3,362		76		93,569
NAV Per Share/Unit as of May 31, 2023	$	12.7076	$	12.8002	$	12.8466	$	—	$	12.5181	$	12.7723	$	12.7723

(1)	Class C and Class E shares of our common stock are offered to investors pursuant to private offerings.
(2)	Includes the units of the Operating Partnership held by parties other than the Company.

As of May 31, 2023, we had not sold any Class T shares.

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Status of Our Offering

We are currently offering on a continuous basis up to $7.5 billion in shares of common stock, consisting of up to $6.0 billion in shares in our primary offering and up to $1.5 billion in shares pursuant to our distribution reinvestment plan. As of the date hereof, we have issued and sold (i) 27,062,398 shares of our common stock (consisting of 20,399,673 Class S shares, 6,518,775 Class I shares and 143,950 Class D shares; no Class T shares have been issued or sold) in our primary offering for total proceeds of $361,405,728 and (ii) 1,530,769 shares of our common stock (consisting of 1,365,601 Class S shares, 165,045 Class I shares and 123 Class D shares; no Class T shares had been issued or sold) pursuant to our distribution reinvestment plan for a total value of $20,231,539. We intend to continue selling shares in the Offering on a monthly basis.

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