Brookfield Property Partners LP (NYSE: BPY, TSX: BPY.UN) was spun off from Brookfield Asset Management on April 15, 2013. It is headquartered in Hamilton, Bermuda and has 22,000 full-time employees. It is a company in North America. , A real estate development company that owns, operates and invests in commercial properties in Europe, Australia and Brazil. Brookfield Renewable Partners , Brookfield Property Partners and Brookfield Infrastructure Partners are all independent or non-independent subsidiaries of Brookfield Asset Management Inc.
Brookfield Property Partners (BPY):
Brookfield Property Partners LP is a global commercial real estate company and a subsidiary of alternative asset management company Brookfield Asset Management. In April 2013, it passed Brookfield Asset Management Inc. (a leading global alternative asset management company with more than US$540 billion in assets under management) Formed by the spin-off, its product portfolio includes offices in North America, Europe and Australia, multi-family residential, retail, hotel and logistics properties.
Brookfield Property Partners (NASDAQ: BPY, TSX: BPY.UN) is a diversified global real estate company that owns, operates and develops office, retail, multi-family, industrial, hotel, hotel, and triple-play investment portfolios 1. Lease, self-storage, student housing and man-made housing assets. Its investment objective is to generate an attractive long-term return on equity of 12%-15% based on stable cash flow, asset appreciation and annual distribution growth consistent with income growth.
Brookfield Property REIT (NASDAQ: BPYU) is a subsidiary of BPY, which aims to provide investors with economic equivalence with BPY units, but in the form of US REIT securities. The dividend of BPYU shares is the same as the dividend distribution of BPY units in amount and time. BPYU shares can be exchanged for BPY units or their cash equivalents at a ratio of 1:1.
Brookfield Property Partners (BPY) History:
As of April 1, 2013, BPY has approximately 300 office and retail properties, accounting for approximately 250 million square feet; approximately 15,600 multi-family units; and 29 million square feet of industrial space, and an 18 million square foot Office development project.
On April 15, 2013, BPY shares began trading on the Toronto and New York Stock Exchanges. The new company integrates all Brookfield’s commercial real estate assets in one place. In addition, BPY also has ownership interests in General Growth Properties, Inc. (GGP) and Rouse Properties, Inc. (RSE).
In June 2014, BPY completed the acquisition of Brookfield Office Properties (BPO). On June 10, 2014, BPO was delisted from the Toronto Stock Exchange; ten days later, it was delisted from the New York Stock Exchange.
In April 2015, the joint venture between Brookfield Property Partners and Qatar Investment Authority (Qatar Investment Authority) completed the acquisition of 100% of London’s Canary Wharf Group (CWG). The transaction also includes a 100% stake in Songbird Estates Plc., which owns 69% of CWG. The total value of the transaction is approximately US$3.9 billion.
In October 2015, BPY acquired the Brookfield residential development project in Brooklyn called “Greenpoint Landing”. BPY also sold a 44% stake in Manhattan West Development to Qatar Investment Authority for USD 8 billion in October 2015.
In January 2016, Brookfield Property Partners announced a partnership with Korea Investment Corp. to purchase a large block of Potsdamer Platz in Berlin, acquiring a total of 17 buildings with a transaction value of US$1.41 billion. Also in January, Brookfield Property Partners also launched the ICD Brookfield Place project in Dubai in a joint venture with Investment Corporation of Dubai. It is an office development project valued at US$1 billion.
Today, Brian Kingston is the CEO of Brookfield Property Partners, and Ric Clark is the chairman of the company.