brookfield property partners (BPY) Key Developments
Brookfield Property Partners L.P. Appoints David Woodward to Oversee Apartment Business and Strategy
May 19 15
Brookfield Property Partners L.P. announced that David Woodward has been hired to oversee Brookfield's apartment business and strategy.
Centre Parcs Mulls IPO
May 14 15
Center Parcs (UK) Group Limited might go for an initial public offering (IPO). The Blackstone Group L.P. (NYSE:BX) is considering whether to float the company or sell it to a suitor, which include joint bidders Cvc Technologies, Inc. (GTSM:4744) and GIC Pte. Ltd. and Brookfield Property Partners L.P. (NYSE:BPY).
Brookfield Property Partners L.P. Announces Executive Changes
May 1 15
John Stinebaugh, currently CFO, will become COO, overseeing the performance of Brookfield Property's real estate investments. Stinebaugh was named CFO in September 2013. Bryan Davis will become CFO and will assume Stinebaugh's former duties. Davis was previously CFO of the office platform.
Brookfield Property Partners L.P. Announces Un-Audited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
Apr 30 15
Brookfield Property Partners L.P. announced un-audited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, company FFO was $181 million or $0.25 per basic unit compared with $157 million or $0.28 per basic unit for the same period in 2014. The increase in company FFO for the quarter was driven by the acquisition of additional interests in Brookfield Office Properties Inc. and Canary Wharf Group plc as well as positive same-store growth in office and retail portfolios. Net income attributable to unit holders was $833 million or $1.17 per unit versus $372 million or $0.67 per unit for the same period in 2014. The increase in the quarter was primarily driven by valuation increases from strong leasing results and improved market conditions in office business. Commercial property and hospitality revenue was $1,080 million compared to $998 million, NOI was $547 million compared to $471 million, FFO was $176 million compared to $164 million for the last year.
Brookfield Property Partners L.P. Declares Quarterly Distribution, Payable on June 30, 2015
Apr 30 15
Board of Directors of Brookfield Property Partners L.P. has declared the quarterly distribution of $0.265 per unit payable on June 30, 2015 to unit holders of record at the close of business on May 29, 2015. Unit holders resident in the United States will receive payment in U.S. dollars and unit holders resident in Canada will receive their distributions in Canadian dollars at the exchange rate on the record date, unless they elect otherwise.