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Brookfield to Acquire Leading Industrial and Logistics Property Company

Brookfield to Acquire Leading Industrial and Logistics Property Company 
HAMILTON, BERMUDA -- (Marketwired) -- 08/07/13 --  Brookfield
Property Partners L.P. (NYSE: BPY) (TSX: BPY.UN) 


 
--  Brookfield to purchase Industrial Developments International from
    Kajima of Japan for $1.1 billion
--  High quality industrial portfolio comprised of over 27 million square
    feet of operating assets and 49 million square feet of future
    development potential
--  Brookfield's industrial portfolio to comprise 62 million square feet
    with 79 million square feet of future development potential

  
Brookfield Property Partners L.P. (NYSE: BPY) (TSX: BPY.UN) has reached
an agreement to acquire Industrial Developments International Inc.
(IDI) from the U.S. subsidiary of Kajima Corporation in a $1.1
billion transaction that will create one of North America's largest
industrial property companies. Brookfield Property Partners will own
an approximate 25% interest in IDI with the balance owned by
Brookfield's institutional partners. 
Founded in 1989 and based in Atlanta, IDI owns and operates 75 high
quality industrial distribution facilities totalling 27 million
square feet in 12 states, and serves major North American consumer
product, retail and industrial companies. In addition, IDI has 49
million square feet of future development projects and a significant
third party property management business.  
The transaction is expected to close in the fourth quarter of 2013.  
With the acquisition of IDI, Brookfield's industrial portfolio will
comprise over 62 million square feet of operating assets and more
than 79 million square feet of future development potential with
operations in North America, Europe, the Middle East and China,
making it one of the largest global owners of industrial and
logistics facilities. 
"The addition of IDI to Brookfield's existing industrial operations
will create a leading global industrial real estate company able to
deliver high quality distribution facilities to clients around the
world," said Ric Clark, Chief Executive Officer of Brookfield
Property Group. "The combined business will own irreplaceable assets
and development sites near major markets and transport routes, with a
25 year track record of delivering superior service, and is now
positioned for significant long term growth." 
"Brookfield will be an exceptional parent organization and we are
enthusiastic about starting a positive new chapter for IDI as we
approach our 25th year in business," said Timothy J. Gunter,
President and Chief Executive Officer of IDI. "With Brookfield's
backing, we have an exciting opportunity ahead of us to strengthen
IDI's presence in the current markets we serve and potentially in
uncharted territory." 
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 20,000 multi-family units, 35 million
square feet of industrial space and a 19 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 
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: 
Melissa Coley
VP, Investor Relations and Communications
Brookfield Property Partners
(212) 417-7215
melissa.coley@brookfield.com 
 
 
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