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 
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Melissa Coley
VP, Investor Relations and Communications
Brookfield Property Partners
(212) 417-7215 
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