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Brookfield Property Partners LP - Q2-2017 Earnings & Price Target Update

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Brookfield Property Partners is a large commercial real estate company with investments in properties valued at $78B and total assets of $83B as at Jun-30-2017. The portfolio is comprised of 146 premier office properties and 127 best-in-class retail malls around the world. Assets also include interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets. Properties are grouped into three classes, core office, core retail and opportunistic properties. These properties with redevelopment or resale potential comprised 20% of the portfolio with the remaining split between office and retail properties located mainly in the US. The next largest area of activity is in Europe followed by Australia and south east Asia. Forecast resale or development spending is $2.7B over the next two years.

Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management (BAM.A), a leading global alternative asset manager with $280B in assets under management. Brookfield Asset Management owns 62% of Brookfield Property Partners (BPY.UN), 61% of Brookfield Renewable Energy (BEP.UN) and 30% of Brookfield Infrastructure Partners(BIP.UN). Brookfield Property Partners contributes 43% of Brookfield Asset Management's distributable cash flow. Brookfield Asset Management is entitled to incentive distributions of 15-25% BPY.UN distributions that exceed $1.10 to $1.20 respectively.

Property Description

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