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Brookfield Spinoff to Pursue Purchases Beyond Offices, Malls

Brookfield Property Partners LP, the $48 billion business being spun off by its Canadian parent, plans to pursue purchases beyond office and retail, the firm’s past areas of focus, as its access to capital improves.

The spinoff, taking effect April 15, is the last of three main business units to be carved out by Toronto-based Brookfield Asset Management Inc. Like the other two, Brookfield Renewable Energy Partners LP and Brookfield Infrastructure Partners LP, Brookfield Property Partners will be a limited partnership based in Bermuda, a traditional tax haven.