Brookfield Property REIT Inc (BPYUP)

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About Brookfield Property REIT Inc

Brookfield Property REIT Inc. (?BPYU?) is a subsidiary of Brookfield Property Partners L.P., (NASDAQ: BPY; TSX: BPY.UN) (?BPY?) one of the world’s premier real estate companies, with approximately $88 billion in total assets. BPYU was created as a public security that is intended to offer economic equivalence to an investment in BPY in the form of a U.S. REIT stock. Address: Brookfield Place, New York, NY, United States, 10281

Brookfield Property REIT Inc News and around…

Latest news about Brookfield Property REIT Inc (BPYUP) common stock and company :

Brookfield Property Partners Declares Quarterly Dividends on Listed Preferred Units
05 Aug, 2021 Yahoo! Finance

All dollar references are in U.S. dollars, unless noted otherwise. BROOKFIELD NEWS, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Brookfield Property Partners (“BPY” or the "Partnership") announced today that the Board of Directors has declared quarterly distributions on the Partnership’s Class A Nasdaq-listed BPYPP, BPYPO and BPYPN preferred units of $0.40625 per unit, $0.39844 per unit and $0.35938 per unit, respectively, payable on September 30, 2021, to holders of record at the close of business on Sept

Brookfield Asset Management Completes Privatization of Brookfield Property Partners
26 Jul, 2021 FinancialContent
Brookfield Property Partners Announces Results of Unitholder Elections in Privatization Transaction
23 Jul, 2021 Yahoo! Finance

All dollar references are in U.S. dollars, unless noted otherwise1 BROOKFIELD NEWS, July 23, 2021 (GLOBE NEWSWIRE) -- Brookfield Property Partners L.P. (“BPY”) (Nasdaq: BPY; TSX: BPY.UN) today announced the results of unitholder elections in Brookfield Asset Management Inc.’s (“BAM”) acquisition of all of the limited partnership units of BPY (the “transaction”). Pursuant to the terms of the transaction and subject to pro-ration, BPY unitholders and holders of exchangeable limited partnership uni

Brookfield Property Partners Obtains Final Court Approval for the Privatization Transaction and Brookfield Property REIT Announces Intention to Redeem Its 6.375% Series A Cumulative Redeemable Preferr
20 Jul, 2021 FinancialContent
Brookfield Property Partners Obtains Final Court Approval for the Privatization Transaction and Brookfield Property REIT Announces Intention to Redeem Its 6.375% Series A Cumulative Redeemable Preferred Stock
20 Jul, 2021 Yahoo! Finance

BROOKFIELD NEWS, July 20, 2021 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“BAM”) (NYSE: BAM; TSX: BAM.A) and Brookfield Property Partners L.P. (“BPY”) (Nasdaq: BPY; TSX: BPY.UN) today announced that BPY has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously announced plan of arrangement whereby BAM will acquire all of the limited partnership units of BPY (the “transaction”). BAM and BPY anticipate that the transaction will clos

Brookfield Property Partners Unitholders Approve Privatization Transaction
16 Jul, 2021 Yahoo! Finance

BROOKFIELD NEWS, July 16, 2021 (GLOBE NEWSWIRE) -- Brookfield Property Partners L.P. (“BPY”) (Nasdaq: BPY; TSX: BPY.UN) announced today that it has received unitholder approval for Brookfield Asset Management Inc.’s (“BAM”) acquisition of all of the limited partnership units of BPY (the “transaction”). Approval was given at a special meeting of BPY unitholders held on July 16, 2021 (the “Meeting”). At the Meeting, approximately 99.06% of the votes cast by all BPY unitholders, and 97.79% of votes

Brookfield Property Partners Announces Mailing of Circular for Special Meeting of Unitholders to Consider Privatization Transaction and Provides Update to Transaction Consideration
17 Jun, 2021 Yahoo! Finance

BROOKFIELD NEWS, June 17, 2021 (GLOBE NEWSWIRE) -- Brookfield Property Partners L.P. (Nasdaq: BPY; TSX: BPY.UN) announced today the mailing of a management information circular (the “Circular”) and related meeting and proxy materials to unitholders in connection with the upcoming special meeting of unitholders. The meeting is called to consider Brookfield Asset Management Inc.’s (“BAM”) acquisition of all of the limited partnership units of BPY (the “transaction”). In accordance with the terms o

Brookfield Property Partners Sets Record Date for Special Meeting of Unitholders to Consider Privatization Transaction
27 May, 2021 Yahoo! Finance

BROOKFIELD NEWS, May 27, 2021 (GLOBE NEWSWIRE) -- Brookfield Property Partners L.P. (Nasdaq: BPY; TSX: BPY.UN) announced today that the record date for its upcoming special meeting of unitholders to consider Brookfield Asset Management Inc.’s (“BAM”) acquisition of all of the limited partnership units of BPY (“the transaction”) will be June 8, 2021. Only unitholders of record as of the close of business on the record date will be entitled to vote their units at the meeting. The special meeting is expected to take place on July 16, 2021. Holders of Class A stock of Brookfield Property REIT Inc. (Nasdaq: BPYU) (“BPYU shares”) and holders of exchangeable limited partnership units of Brookfield Office Property Exchange LP (“exchangeable units”) are not entitled to vote at the special meeting or exercise dissent rights with respect to the transaction. Any holders of BPYU shares or exchangeable units who wish to vote or exercise dissent rights must convert their securities into BPY units prior to the record date. Holders of BPYU shares must submit their shares for conversion by June 2, 2021 in order to receive their BPY units by close of business on the record date; instructions on how to do so can be found here. Holders of exchangeable units should contact their broker or AST Trust Company (Canada) at 877-715-0498 or inquiries@astfinancial.com. IMPORTANT INFORMATION AND WHERE TO FIND IT In connection with the transaction, BAM and BPY, together with certain subsidiaries of BPY (collectively, the “Registrants”) have filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form F-4 that includes a circular of BPY that also constitutes a prospectus of the Registrants. Each of BAM and BPY also plan to file other relevant documents with the SEC regarding the transaction. A final circular/prospectus will also be mailed to BPY unitholders, holders of BPYU shares and holders of exchangeable units. INVESTORS ARE URGED TO READ THE REGISTRATION STATEMENT, CIRCULAR/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A free copy of the circular/prospectus, as well as other filings containing information about the Registrants, may be obtained at the SEC’s Internet site (http://www.sec.gov). You may also obtain these documents, free of charge, from BPY by accessing BPY’s website at bpy.brookfield.com or from BAM by accessing BAM’s website at bam.brookfield.com. Brookfield Property Partners Brookfield Property Partners, through Brookfield Property Partners L.P. and its subsidiary Brookfield Property REIT Inc., is one of the world’s premier real estate companies, with approximately $88 billion in total assets. We own and operate iconic properties in the world’s major markets, and our global portfolio includes office, retail, multifamily, logistics, hospitality, triple net lease, manufactured housing and student housing. Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management Inc., a leading global alternative asset manager with over $600 billion in assets under management. More information is available at www.brookfield.com. Brookfield Property Partners L.P. is listed on the Nasdaq Stock Market and the Toronto Stock Exchange. Brookfield Property REIT Inc. is listed on the Nasdaq Stock Market. Further information is available at bpy.brookfield.com. Brookfield Contact: Matt CherrySVP, Investor Relations(212) 417-7488matthew.cherry@brookfield.com FORWARD-LOOKING STATEMENTS This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. The word “will” and derivations thereof and other expressions that are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward-looking statements in this news release include statements with respect to the transaction and the special meeting of BPY unitholders. Although BAM and BPY believe that such forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information Except as required by law, BAM and BPY undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Shareholders Of Brookfield Property REIT (NASDAQ:BPYU) Must Be Happy With Their 130% Total Return
16 May, 2021 Yahoo! Finance

Unfortunately, investing is risky - companies can and do go bankrupt. On the other hand, if you find a high quality...

Brookfield Property Partners Reports First Quarter 2021 Results
07 May, 2021 Yahoo! Finance

All dollar references are in U.S. dollars, unless noted otherwise.BROOKFIELD NEWS, May 07, 2021 (GLOBE NEWSWIRE) -- Brookfield Property Partners L.P. (NASDAQ: BPY; NASDAQ: BPYU; TSX: BPY.UN) (“BPY” or the "Partnership") today announced financial results for the quarter ended March 31, 2021. “While we continue to experience challenges in certain of our operations and markets due to the ongoing consequences of the pandemic and global economic slowdown, we remain encouraged by a recovery in activity in select sectors within our business,” said Brian Kingston, CEO of Brookfield Property Partners. Financial Results Net income for the quarter ended March 31, 2021 was $731 million or $0.25 per LP unit compared to a loss of $373 million or $(0.49) per LP unit for the same period in 2020. This quarter benefited from gains in our office portfolio and LP investments. Company FFO (CFFO) was $125 million for the quarter ended March 31, 2021, compared to $309 million in the prior-year period. The prior year period benefited from higher transaction income, and CFFO was largely impacted this quarter by residual effects of the economic slowdown on our retail and hospitality operations. Three months ended Mar. 31,(US$ Millions, except per unit amounts) 2021 2020 Net income (loss)(1) $731 $(373)Company FFO and realized gains(2) $311 $323 Company FFO(2) $125 $309 Net income (loss) per LP unit(3)(4) $0.25 $(0.49)Company FFO and realized gains per unit(4)(5) $0.32 $0.33 (1) Consolidated basis – includes amounts attributable to non-controlling interests.(2) See "Basis of Presentation" and “Reconciliation of Non-IFRS Measures” in this press release for the definition and components.(3) Represents basic net income attributable to holders of LP units. IFRS requires the inclusion of preferred shares that are mandatorily convertible into LP units at a price of $25.70 without an add-back to earnings of the associated carry on the preferred shares.(4) Net income attributable to holders of LP units and Company FFO and realized gains per unit are reduced by preferred dividends of $11 million (2020 – $9 million) for three months ended March 31, 2021, in determining per unit amounts.(5) Company FFO and realized gains per unit are calculated based on 935.7 million (2020 – 943.5 million) units outstanding for the three months ended March 31, 2021. Operating Highlights Our Core Office business generated CFFO of $140 million for the quarter ended March 31, 2021 compared to $135 million in the same period in 2020. Results this quarter benefited from incremental condominium sales income and lower interest expense, offset in part by lower parking revenue and portfolio occupancy. Core Office leasing activity in the first quarter totaled 894,000 square feet, which were completed at rents significantly higher than expiring leases in the period. Occupancy in the portfolio decreased 120 basis points to 88.8%, with a remaining weighted average lease term of 8.6 years. Our Core Retail business generated CFFO of $108 million for the quarter ended March 31, 2021 compared to $195 million in the comparable period in 2020. The prior year period benefited from $30 million in transaction income from the sale of investment positions, and results this quarter were impacted most notably by lower occupancy. Our Core Retail operations leased approximately 5.9 million square feet over the past 12 months with initial rents that were consistent with expiring rents. Our properties were 91.5% leased at March 31, 2021, a decrease of 100 basis points from the prior period. On a year-over-year basis, in-place rents were up 2.5%1. Our LP Investments generated CFFO and realized gains of $188 million for the quarter ended March 31, 2021, compared to earnings of $76 million in the comparable period in 2020. Results this quarter benefited from realized gains from the sale of mature and stable assets, as well as the disposition of a non-property investment position. CFFO was negatively impacted from continued pressure on our hospitality assets due to the global economic slowdown. Three months ended Mar. 31,(US$ Millions)2021 2020 Company FFO and realized gains: Core Office $140 $135 Core Retail$108 $195 LP Investments$188 $76 Corporate$(125) $(83)Company FFO and realized gains(1)$311 $323 (1) See "Basis of Presentation" and "Reconciliation of Non-IFRS Measures" below in this press release for the definitions and components. Dispositions In the first quarter, we completed $1.1 billion of gross asset dispositions at our share, at prices that were in aggregate significantly higher than our IFRS carrying values. These sales generated approximately $244 million in net proceeds to BPY. Dispositions completed in the first quarter include: Sold 50% interest in Bay Adelaide North office tower in Toronto for $581 million, generating net proceeds of $133 million to BPY.Monetized a portion of our Indian office portfolio via a Mumbai-listed IPO, resulting in a realized gain of $69 million to BPY.Sold interest in retailer Forever 21, resulting in a realized gain of $63 million to BPY.Completed the sale of our Northeast U.S. life sciences office portfolio at a gross sales price of $3.4 billion, generating approximately $100 million in net proceeds to BPY. Balance Sheet Update To increase liquidity and extend the maturity of our debt, during the first quarter we executed the following financing transactions: Refinanced ICD Brookfield Place office tower in Dubai for $626 million for a 7.5-year term at an interest rate of EIBOR +3.50%, generating net proceeds of $66 million to BPY.Refinanced One and Three Allen Center in Houston for $470 million for a 5-year term at an interest rate of LIBOR +2.97%.Refinanced Gas Company Tower in Los Angeles for $465 million for a 5-year term at an interest rate of LIBOR +3.07%.Refinanced Kenwood Towne Centre in Cincinnati, Ohio for $210 million for a 3-year term at an interest rate of LIBOR +3.40%.Subsequent to quarter-end, extended maturity on a $1.1 billion, 15-property Core Retail mortgage loan for an additional three-year term at an interest rate of LIBOR +3.25%. Ended the quarter with $5.3 billion of group-wide liquidity, including $1.5 billion of cash on hand, $2.1 billion of corporate and subsidiary credit facilities and $1.7 billion of undrawn construction facilities. Privatization Agreement from Brookfield Asset Management On April 1, 2021, Brookfield Asset Management ("BAM") and BPY announced an agreement for BAM to acquire 100% of the limited partnership units of BPY for a price for each unit of $18.17 in cash, 0.3979 of a BAM Class A Shares or 0.7268 of a BPY preferred unit, subject to pro-ration (or approximately $6.5 billion payable to the unitholders of BPY other than BAM and its affiliates). Assuming the acquisition is approved by BPY's minority unitholders and the other approvals and conditions are obtained and satisfied, we expect the transaction to close in the third quarter. Distribution Update Pursuant to the terms of the agreement governing the proposed transaction with BAM, holders of BPY units will not receive further quarterly distributions. The distribution reinvestment plan (the “DRIP”) of BPY will be terminated effective May 7, 2021. Each participant will receive a DRS statement for all BPY units held under the DRIP and a cash payment for any fractional unit based upon the closing price of the BPY units (in U.S. dollars) on the Nasdaq Stock Market on May 6, 2021. Participants seeking further information with respect to their entitlements under the DRIP may contact the plan agent under the DRIP, AST Trust Company (Canada). Participants who hold BPY units through a broker, investment dealer, financial institution or other intermediary should contact such intermediary for further information. The Board of Directors has declared quarterly distributions on the partnership’s Class A Series 1, Series 2 and Series 3 preferred units of $0.40625 per unit, $0.39844 per unit and $0.35938, respectively, payable on June 30, 2021 to holders of record at the close of business on June 1, 2021. ____________________________1 In-place rents reflect retail tenants

Brookfield Asset Management Reaches Agreement with Brookfield Property Partners to Acquire 100% of BPY Units
01 Apr, 2021 FinancialContent
Industrial real estate is ‘as strong as we’ve ever seen’: IRG CEO
23 Mar, 2021 Yahoo! Finance

John Mase, Industrial Realty Group CEO, joins Yahoo Finance’s Alexis Christoforous to discuss the impact of the pandemic on industrial real estate.

Brookfield Property REIT Inc. -- Moody's announces completion of a periodic review of ratings of Brookfield Property REIT Inc.
19 Mar, 2021 Yahoo! Finance

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Brookfield Property REIT Inc.Global Credit Research - 19 Mar 2021New York, March 19, 2021 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Brookfield Property REIT Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review discussion held on 17 March 2021 in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

Brookfield Property REIT Inc. Completes 2020 Annual Filings
01 Mar, 2021 Yahoo! Finance

BROOKFIELD NEWS, March 01, 2021 (GLOBE NEWSWIRE) -- Brookfield Property REIT Inc. (NASDAQ: BPYU) announced today that it has filed its 2020 annual report on Form 10-K, including its audited financial statements for the year ended December 31, 2020, with the SEC on EDGAR. This document is also available on the website at https://bpy.brookfield.com/bpyu and a hard copy will be provided to shareholders and other interested parties free-of-charge upon request. About Brookfield Property REIT Inc. Brookfield Property REIT Inc. (“BPYU”) is a subsidiary of Brookfield Property Partners L.P., (NASDAQ: BPY; TSX: BPY.UN) (“BPY”) one of the world’s premier real estate companies, with approximately $88 billion in total assets. BPYU was created as a public security that is intended to offer economic equivalence to an investment in BPY in the form of a U.S. REIT stock. Brookfield Property Partners are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, logistics, hospitality, triple net lease, manufactured housing and student housing assets. Further information is available at bpy.brookfield.com/bpyu. Brookfield Contact: Matt CherrySenior Vice President, Investor RelationsTel: 212-417-7488Email: matthew.cherry@brookfield.com

10 Best High Yield Stocks To Buy Now
08 Feb, 2021 Yahoo! Finance

In this article we discuss 10 best high yield stocks to buy now. You can skip our discussion of why do we think it’s a good strategy to invest in dividend stocks in 2021 and go directly to 5 Best High Yield Stocks to Buy Now. Is Dividend Investing a Good Strategy in 2021? There […]

Brookfield Property REIT Inc. Declares Quarterly Dividends
02 Feb, 2021 FinancialContent
Brookfield Property REIT Inc. Announces Tax Reporting Information for 2020 Distributions on Shares of Brookfield Property REIT Inc.
19 Jan, 2021 FinancialContent
Brookfield Property Partners Acknowledges Brookfield Asset Management’s Privatization Proposal and Establishes a Committee of Independent Directors
04 Jan, 2021 Yahoo! Finance

All dollar references are in U.S. dollars, unless noted otherwise. BROOKFIELD NEWS, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Brookfield Property Partners L.P. (“BPY” or the “Company”) (NASDAQ: BPY; TSX: BPY.UN) and Brookfield Property REIT Inc. (“BPYU”) (NASDAQ: BPYU) today jointly acknowledge receipt of a non-binding proposal from Brookfield Asset Management Inc. (“Brookfield”) (NYSE: BAM; TSX: BAM.A) that Brookfield announced by press release issued earlier today outlining its proposal to acquire 100% of the limited partnership units of BPY that it does not already own (“Units”) (approximately 357.6 million Units) for a price of $16.50 per Unit, or $5.9 billion in total value (based on the closing price of the class A limited voting shares of Brookfield (“Brookfield Shares”) on the NYSE and TSX on December 31, 2020).As outlined in Brookfield’s press release, the proposal provides that each unitholder can elect to receive consideration per Unit of a combination of (i) 0.4 Brookfield Shares, (ii) $16.50 in cash, and/or (iii) 0.66 BPY Class A Cumulative Redeemable Perpetual Preferred Units with a liquidation preference of $25.00 per Unit (“BPY Prefs”), subject in each case to pro-ration based on a maximum of 59.5 million Brookfield Shares (42% of the total value of Units), maximum cash consideration of $2.95 billion (50% of the total value of Units), and a maximum value of $500 million in BPY Prefs (8% of the total value of the Units). If unitholders collectively elect to receive in excess of $500 million in BPY Prefs, the amount of BPY Prefs can increase to a maximum of $1 billion, offset against the maximum amount of Brookfield Shares. The maximum amount of cash consideration would not be affected.As outlined in Brookfield’s press release, Brookfield is not proposing to acquire other securities of BPY and its subsidiaries, including existing preferred units of BPY and preferred shares of wholly owned subsidiary Brookfield Office Properties Inc., which are expected to remain outstanding. However, it is expected that holders of the Class A Stock, par value $0.01 per share, of BPYU would receive the same per share consideration as BPY unitholders under the proposal upon exchange of their shares into BPY units. It is also expected that the BPYU 6.375% Series A Cumulative Redeemable Preferred Stock would be redeemed at its par value of $25.00 per share in connection with the proposed transaction.The board of directors of the general partner of BPY has established a committee of independent directors to review and consider the proposal. BPY unitholders and BPYU shareholders do not need to take any action with respect to the proposal at this time.About Brookfield Property PartnersBrookfield Property Partners, through Brookfield Property Partners L.P. and its subsidiary Brookfield Property REIT Inc., is one of the world’s premier real estate companies, with approximately $88 billion in total assets. We own and operate iconic properties in the world’s major markets, and our global portfolio includes office, retail, multifamily, logistics, hospitality, self-storage, triple net lease, manufactured housing and student housing.Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management Inc., a leading global alternative asset manager with approximately $575 billion in assets under management. More information is available at www.brookfield.com.Brookfield Property Partners L.P. is listed on the Nasdaq Stock Market and the Toronto Stock Exchange. Brookfield Property REIT Inc. is listed on the Nasdaq Stock Market. Further information is available at bpy.brookfield.com. Contact: Matt Cherry Senior Vice President, Investor Relations Tel: 212-417-7488 Email: matthew.cherry@brookfield.comForward-Looking StatementsThis communication contains “forward-looking information” within the meaning of applicable securities laws and regulations. Forward looking statements include statements that are predictive in nature or depend upon or refer to future events or conditions, include statements regarding our operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as “expects,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “forecasts,” “likely,” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.”Although we believe that our anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: risks incidental to the ownership and operation of real estate properties including local real estate conditions; the impact or unanticipated impact of general economic, political and market factors in the countries in which we do business, including as a result of the recent global economic shutdown; the ability to enter into new leases or renew leases on favorable terms; business competition; dependence on tenants’ financial condition; the use of debt to finance our business; the behavior of financial markets, including fluctuations in interest and foreign exchange rates; uncertainties of real estate development or redevelopment; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; risks relating to our insurance coverage; the possible impact of international conflicts and other developments including terrorist acts; potential environmental liabilities; changes in tax laws and other tax related risks; dependence on management personnel; illiquidity of investments; the ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits therefrom; operational and reputational risks; catastrophic events, such as earthquakes, hurricanes or pandemics/epidemics; and other risks and factors detailed from time to time in our documents filed with the securities regulators in Canada and the United States. In addition, our future results may be impacted by risks associated with the global economic shutdown caused by a novel strain of coronavirus, COVID-19, and the related global reduction in commerce and travel and substantial volatility in stock markets worldwide, which may result in a decrease of cash flows and impairment losses and/or revaluations on our investments and real estate properties, and we may be unable to achieve our expected returns.We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements or information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Brookfield Asset Management and Institutional Partners Propose to Acquire 100% of the Units of Brookfield Property Partners Not Owned by Brookfield for $5.9 Billion
04 Jan, 2021 Yahoo! Finance

All dollar references are in U.S. dollars, unless noted otherwise.BROOKFIELD NEWS, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield”) (NYSE: BAM; TSX: BAM.A) with institutional partners announced today that it has made a proposal to Brookfield Property Partners L.P. (“BPY”) (NASDAQ: BPY; TSX: BPY.UN) to acquire all of the limited partnership units of BPY that it does not already own (“BPY units”) at a value of $16.50 per BPY unit, or $5.9 billion in total value.Subject to pro-ration, BPY unitholders would have the ability to elect to receive, per BPY unit, $16.50 in cash, 0.40 Brookfield Class A shares, or 0.66 of BPY preferred units with a liquidation preference of $25.00 per unit. Pro-ration will be based on a maximum cash consideration of $2.95 billion (50% of the total value of the units), a maximum of 59.5 million Brookfield shares (42% of the total value of the units), and a maximum value of $500 million of BPY preferred units (8% of the total value of the units). If unitholders collectively elect to receive in excess of $500 million BPY preferred units, the amount of BPY preferred units can increase to a maximum of $1.0 billion, offset against the maximum amount of Brookfield shares. The maximum amount of cash consideration would not be affected.The $16.50 per unit price represents a premium of 14.9% and 14.0%, respectively, to the closing price of the BPY units on the TSX and Nasdaq on December 31, 2020. This price also represents a premium of 8.9% and 29.4%, respectively, to the 30-day and 180-day volume-weighted average price of the BPY units on the Nasdaq.Nick Goodman, CFO of Brookfield Asset Management stated, “The offer presents an excellent opportunity for BPY unitholders to either monetize their units in cash at a premium to recent trading prices, continue to invest with us in the upside of the portfolio via Brookfield shares, or select BPY preferred units designed for income-oriented investors who would like to maintain similar dividend income which they receive from BPY today in a preferred instrument, based on what is best for them.”He continued, “The privatization will allow us to have greater flexibility in operating the portfolio and realizing the intrinsic value of BPY’s high-quality assets.” Brookfield will ensure that holders of the Class A stock of Brookfield Property REIT Inc. (NASDAQ: BPYU) will be entitled to receive the same per share consideration as BPY unitholders under the proposal upon exchange of their shares into BPY units. It is also expected that the BPYU 6.375% Series A Cumulative Redeemable Preferred stock would be redeemed at its par value of $25.00 per share in connection with the proposed transaction. Brookfield is not proposing to acquire other securities of BPY and its subsidiaries, which are expected to remain outstanding.ProcessBrookfield has presented its proposal to the board of directors of the general partner of BPY and has asked the board to begin a process to review the proposal and appoint a special committee of independent directors to commission an independent valuation of the BPY units.  Once the valuation is available, Brookfield would seek to enter into a definitive agreement with BPY with respect to the proposed transaction for presentation to unitholders.This press release is neither an offer to purchase nor a solicitation of an offer to sell securities.  There is no certainty that the proposed transaction will proceed or be consummated.About Brookfield Asset ManagementBrookfield Asset Management is a leading global alternative asset manager with approximately US$575 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively.For more information, please contact:Communications & MediaInvestor Relations    Kerrie McHughLinda Northwood Tel: +1212 618-3469Tel: +1 416 359-8647 Email: kerrie.mchugh@brookfield.comEmail: linda.northwood@brookfield.com Forward-Looking StatementsNote: This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. The word “will” and derivations thereof and other expressions that are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements.Forward-looking statements in this news release include statements with respect to the proposal described in this new release, the expected benefits thereof, and the prospect of its completion. Although Brookfield believes that such forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information as such statements and information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Brookfield to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include: economic and financial conditions in the countries in which we do business or may do business; the behavior of financial markets, including fluctuations in interest and exchange rates; availability of equity and debt financing; and other risks and factors as detailed from time to time in Brookfield’s Annual Report on Form 40-F filed with the Securities and Exchange Commission as well as other documents filed by Brookfield with the securities regulators in Canada and the United States.We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Brookfield, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, Brookfield undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.Additional Information and Where to Find ItShould the proposed transaction go forward, Brookfield intends to file a Transaction Statement on Schedule 13E-3 and other related documents (the “Transaction Documents”) with the Securities and Exchange Commission (“SEC”) in connection with the transaction. The Transaction Documents also will be filed with the Canadian securities regulatory authorities. Security holders and investors will be able to obtain free copies of the Transaction Documents (when they become available), as well as other filings containing information about Brookfield, BPY and the transaction described herein, without charge, at the SEC’s web site at www.sec.gov, at the Canadian securities regulatory authorities’ website at www.sedar.com. SECURITY HOLDERS AND INVESTORS ARE URGED TO READ ANY SUCH DOCUMENTS CAREFULLY IN THEIR ENTIRETY BEFORE MAKING ANY INVESTMENT DECISION WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.No securities regulatory authority has either approved or disapproved of the contents of this communication.  This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.  The securities to be issued in the transaction are anticipated to be issued in reliance upon exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, pursuant to Section 3(a)(10) thereof, and applicable exemptions under state securities laws.

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