Brookfield Acquires EZW Gazeley

Brookfield Property Partners, L.P. BPY BPY and its institutional partners through a fund managed by an affiliate of Brookfield Asset Management, Inc. BAM BAM today announced the acquisition of EZW Gazeley Limited ("Gazeley") from Economic Zones World ("EZW"), part of Dubai World. Brookfield Property Partners will own an approximate 30% interest in Gazeley.Gazeley is a specialist developer of large scale logistics warehouses and distribution parks in key strategic locations across the UK, Western Europe and China. Over the past 25 years, Gazeley has completed approximately 7 million square meters (75 million square feet) of high quality, cost effective warehouses.Gazeley's current portfolio includes 524,000 square meters (5.64 million square feet) of existing assets and a substantial land bank of 1.3 million square meters (14 million square feet) with a further 1.1 million square meters (11.84 million square feet) held under option agreements.The acquisition of Gazeley provides Brookfield exposure to high quality assets, which offer potential growth and value enhancement. Brookfield will seek to build upon Gazeley's extensive European footprint while capitalizing on its experience and growing presence in the Middle East and China. Brookfield's capital base, property operating experience and global See full press release