Brookfield Property Offers to Buy Rest of Brookfield Office
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Brookfield Property Partners LP offered to buy the shares of Brookfield Office Properties Inc. that it doesn’t already own to consolidate holdings and create one of the largest commercial real estate landlords.
Brookfield Property is planning a tender offer of the New York-based landlord’s shares for stock or cash at a value of $19.34 each, according to today’s statement. That is 15 percent more than Brookfield Office’s closing price on Sept. 27. The deal is valued at $5 billion based on Hamilton, Bermuda-based Brookfield Property’s closing share price, the company said.