January 18, 2018 1:19 PM ET

Real Estate Management and Development

Company Overview of Brookfield Property Partners L.P.

Company Overview

Brookfield Property Partners is one of the world’s largest commercial real estate companies, with approximately $68 billion in total assets. We are leading owners, operators and investors in commercial property assets, with a diversified portfolio that includes 146 premier office properties and 126 best-in-class retail malls around the world. We also hold interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets. Brookfield Property Partners is listed on the New York and Toronto stock exchanges. Further information is available at http://bpy.brookfield.com. Important information may be disseminated exclusively via the w...

73 Front Street

Fifth Floor

Hamilton,  

Bermuda

16,000 Employees

Phone:

HM 12

Fax:

(441) 294-3309

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 L.P.(NasdaqGS:BPY) added to NASDAQ Composite Index

Brookfield Property Partners L.P. has been added to NASDAQ Composite Index .

Brookfield Property Partners L.P. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides FFO Guidance for 2017

Brookfield Property Partners L.P. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported commercial property and hospitality revenue was $1,476 million against $1,353 million a year ago. Net income attributable to limited partners was $61 million against $462 million a year ago. FFO was $197 million against $209 million a year ago. Net income was $659 million against $1,616 million a year ago. Net income per LP unit was $0.22 compared with $1.61 a year ago. Company FFO was $236 million or $0.34 per unit for the quarter ended September 30, 2017 compared with $232 million or $0.33 per unit for the same period in 2016. The decrease in net income for the quarter is primarily attributable to the recognition in the prior year period of approximately $900 million in deferred tax income as a result of a restructuring the Partnership undertook to consolidate the ownership of its core retail and core office assets in the U.S. into an existing REIT subsidiary. In comparing results to the second quarter of 2017, company FFO decreased by $22 million from $258 million earned in that period. This decrease was primarily attributable to a $32 million one-time item earned at Canary Wharf in the prior quarter, offset by $6 million in incremental FFO due to the strengthening of foreign currencies relative to the U.S. dollars and $4 million of increase due to the combination of recycling of capital activities and operating growth. Total revenue was $1,510 million as compared to $1,409 million for the same period last year. Income before income taxes was $842 million as compared to $655 million for the same period last year. Diluted net income per lp unit was $0.22 as compared to $1.56 for the same period last year. For the nine months, the company reported commercial property and hospitality revenue was $4,325 million against $3,847 million a year ago. Net income attributable to limited partners was $88 million against $683 million a year ago. FFO was $626 million against $643 million a year ago. Net income was $1,510 million against $2,625 million a year ago. Net income per LP unit was $0.31 compared with $2.37 a year ago. Company FFO was $731 million or $1.04 per unit for the quarter ended September 30, 2017 compared with $699 million or $0.98 per unit for the same period in 2016. Total revenue was $4,557 million as compared to $3,989 million for the same period last year. Income before income taxes was $1,929 million as compared to $1,892 million for the same period last year. Diluted net income per lp unit was $0.31 as compared to $2.31 for the same period last year. Cashflow from operating activities was $387 million as compared to cash outflow from operating activities of $139 million for the same period last year. Property acquisitions and capital expenditures was $3,739 million as compared to $3,992 million for the same period last year. As mentioned last quarter with respect to The Eugene when stabilized, The company expects -- which it Expect to achieve by mid-2018, it will earn $10 million in FFO on an annual basis. For 2 London Wall and Brookfield Place Calgary East, which it expects to stabilize by late 2018, it will earn almost $30 million of incremental FFO on an annual basis.

Brookfield Property Partners L.P. Declares Quarterly Distribution Payable on December 29, 2017

The Board of Directors of Brookfield Property Partners L.P. has declared the quarterly distribution of $0.295 per unit payable on December 29, 2017 to unitholders of record at the close of business on November 30, 2017.

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