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August 31, 2015 5:26 AM ET

Real Estate Management and Development

Company Overview of Brookfield Property Partners L.P.

Company Overview

Brookfield Property Partners L.P. owns, operates, and invests in commercial properties in North America, Europe, Australia, and Brazil. As of April 1, 2013, the company had interests in approximately 300 office and retail properties covering approximately 250 million square feet; approximately 15,600 multi-family units; and 29 million square feet of industrial space, as well as an 18 million square foot office development pipeline. It also has investments in distressed and under-performing real estate assets and businesses; and commercial real estate mortgages and mezzanine loans. The company is headquartered in Hamilton, Bermuda. Brookfield Property Partners L.P. (NYSE:BPY.WI) operates inde...

73 Front Street

5th Floor

Hamilton,  HM 12

Bermuda

14,000 Employees

Key Executives for Brookfield Property Partners L.P.

Brookfield Property Partners L.P. does not have any Key Executives recorded.

Brookfield Property Partners L.P. Key Developments

Brookfield Property Partners May Put Office Portfolio Up For Sale

Brookfield Property Partners L.P. (NYSE:BPY) intends to put some of Australia’s best office assets, including interests in Perth’s landmark Brookfield Place and Melbourne’s Southern Cross complex on the block, putting $1.3 billion of assets in play. It is likely to bring half stakes in the buildings to market, raising about $1.3 billion, rather than seeking outright sales of the $2.6 billion towers, in line with its global strategy of forming partnerships with key investors. Brookfield is known to be taking advice from CBRE on the entire portfolio and from Colliers International on the Melbourne asset. Brookfield could package the assets up as a portfolio that would potentially bring in capital partners on a global scale.

Brookfield Property Partners Reportedly Looking To Raise Capital From Sales

Brookfield Property Partners L.P. (NYSE:BPY) is in the process of selling at least $1.3-billion in apartment, industrial and office assets, taking advantage of demand for real estate. A Bloomberg dispatch to The Globe reports that Brookfield is in advanced talks to sell an interest in its 99 Bishopsgate office tower in London as well as a Toronto property -a total of about $300-million of assets on the market. In addition, Brookfield plans to raise about $1-billion this year from the sale of interests in some properties, and is seeking to sell some properties later this year and in early 2016. Chief executive officer Ric Clark says, "There's no shortage of interest from institutional and sovereign wealth funds so we think it's a good time to recycle capital out of mature stabilized assets."

Brookfield Property Partners L.P. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015

Brookfield Property Partners L.P. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2015. For the quarter, the company reported net income of $1,165 million, net income attributable to limited partners of $374 million, net income attributable to unit holders of $1,026 million or $1.31 per basic share, FFO of $158 million, company FFO of $198 million or $0.28 per unit compared to the net income of $1,289 million, net income attributable to limited partners of $270 million, net income attributable to unit holders of $892 million or $1.31 per basic share, FFO of $208 million, company FFO of $193 million or $0.28 per unit for the same quarter a year ago. For the year to date, the company reported net income of $2,174 million, net income attributable to limited partners of $672 million, net income attributable to unit holders of $1,859 million or $2.37 per basic share, FFO of $334 million, company FFO of $379 million or $0.53 per unit compared to the net income of $1,782 million, net income attributable to limited partners of $347 million, net income attributable to unit holders of $1,264 million or $2.04 per basic share, FFO of $372 million, company FFO of $350 million or $0.57 per unit for the same period a year ago.

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