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Brookfield Acquires Leading European Logistics Assets Company

Brookfield Acquires Leading European Logistics Assets Company 
LONDON -- (Marketwired) -- 06/11/13 --  Brookfield Property Partners,
L.P. (NYSE: BPY) (TSX: BPY.UN) and its institutional partners through
a fund managed by an affiliate of Brookfield Asset Management, Inc.
(NYSE: BAM) (TSX: BAM.A) today announced the acquisition of EZW
Gazeley Limited ("Gazeley") from Economic Zones World ("EZW"), part
of Dubai World. Brookfield Property Partners will own an approximate
30% interest in Gazeley.  
Gazeley is a specialist developer of large scale logistics warehouses
and distribution parks in key strategic locations across the UK,
Western Europe and China. Over the past 25 years, Gazeley has
completed approximately 7 million square meters (75 million square
feet) of high quality, cost effective warehouses.  
Gazeley's current portfolio includes 524,000 square meters (5.64
million square feet) of existing assets and a substantial land bank
of 1.3 million square meters (14 million square feet) with a further
1.1 million square meters (11.84 million square feet) held under
option agreements.  
The acquisition of Gazeley provides Brookfield exposure to high
quality assets, which offer potential growth and value enhancement.
Brookfield will seek to build upon Gazeley's extensive European
footprint while capitalizing on its experience and growing presence
in the Middle East and China. Brookfield's capital base, property
operating experience and global platform will transform Gazeley from
a developer of logistics warehouses to a full-service logistics asset
manager, allowing Gazeley to offer a wider range of services to its
customers.  
Hisham Abdullah Al Shirawi, Chairman of EZW, commented: "EZW is
pleased to have completed this milestone transaction. Our
relationship with Gazeley has been fruitful and we will continue to
work together in areas of common interest." 
Pat McGillycuddy, Chief Executive Officer of Gazeley, commented:
"Gazeley has enjoyed a strong and successful relationship with EZW
since its acquisition in 2008. Gazeley and its management team are
excited about beginning a new chapter under Brookfield's ownership
and believe that Brookfield will provide the support and expertise to
transform Gazeley into a full service logistics asset manager." 
Ric Clark, Chief Executive Officer of the Brookfield Property Group,
said: "We are pleased to have completed the acquisition of Gazeley, a
high quality business with a great track record, strong management
team and global footprint. With Brookfield's financial resources we
see great opportunities to grow the business both as an investor and
a developer of logistics assets." 
About Brookfield Property Partners  
Brookfield Property Partners is a commercial real estate owner,
operator and investor operating globally. Our diversified portfolio
includes interests in over 300 office and retail properties
encompassing approximately 250 million square feet. In addition, we
have interests in approximately 19,800 multi-family units, 29 million
square feet of industrial space and an 18 million square foot office
development pipeline. Our goal is to be the leading global investor
in best in class commercial property assets. For more information,
please visit www.brookfieldpropertypartners.com 
About EZW 
EZW is the global provider of sustainable industrial and logistics
infrastructure solutions. It currently has presence in Asia, Africa,
the Middle East and the US. The company is in the business of
providing robust network of economic zones, technology, logistics and
industrial parks as well as build-to-suit developments across the
world with an objective to support the dynamic expansion of its
rapidly growing international customer base. EZW's current portfolio
in Dubai includes Jebel Ali Free Zone, TechnoPark and Dubai Auto
Zone. EZW's multi sector zones in Dubai are spread over more than 70
square kilometres. 
Forward-Looking Statements 
This news release contains "forward-looking information" within the
meaning of Canadian provincial securities laws and applicable
regulations and "forward-looking statements" within the meaning of
"safe harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements that are predictive in nature, 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; the ability to enter into new leases or renew leases on
favourable 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 exchanges 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 and hurricanes; and
other risks and factors detailed from time to time in our documents
filed 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 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. 
Contact: 
North America
Brookfield Property Partners
Melissa Coley
VP, Investor Relations and Communications
(212) 417-7215
melissa.coley@brookfield.com 
UK
Smithfield 
Ged Brumby
Director
+44 (0) 20 7903 0674
gbrumby@smithfieldgroup.com 
 
 
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