Market Overview

Brookfield Investments Acquires Units of Brookfield Property Partners

Brookfield Investments Corporation announced the acquisition of a 10.6% economic interest in Brookfield Property Partners L.P. ("BPY"), a newly created company to be spun-off from Brookfield Asset Management Inc. ("Brookfield") on April 15, 2013. As consideration for the transaction, the Company sold its 11% common share interest in Brookfield Office Properties Inc. (NYSE: BPO), as well as the Company's portfolio of preferred shares of Brookfield Office Properties. In addition, the Company's 36% limited partnership interest in Brookfield Europe LP sold its interest in Canary Wharf Group plc, as well as certain other European assets, to BPY and received as consideration an indirect 8.9% economic interest in BPY's business The Company will continue to hold a 36% limited partnership interest in Brookfield Europe. The result of the two transactions is that, in the aggregate, the Company will now hold a 13.8% indirect interest in BPY's businesses. The Company will continue to hold an interest in Brookfield Office Properties, Canary Wharf Group and other global property assets through the Company's interest in BPY. Upon its spin-off, BPY will be Brookfield's flagship publicly-traded commercial property company and the primary entity through which

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Posted-In: Earnings News Guidance Contracts Asset Sales M&A Global

 

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