Brookfield Property Partners
 |
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| Public company | |
| Traded as | NYSE: BPY TSX: BPY.UN |
| Industry | Commercial Real Estate |
| Founded | 2013 |
| Headquarters | Brookfield Place, Toronto, Canada |
|
Key people
|
Ric Clark, Chairman Brian Kingston, CEO |
| Revenue |
 US$4.9 billion (2015) |
|
US$3.8 billion (2015) |
|
| Total assets |
US$71.9 billion (2015) |
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Number of employees
|
14,000 |
| Website | www.brookfield.com |
Brookfield Property Partners (NYSE: BPY; TSX: BPY.UN) is a global company which owns, operates and invests in commercial property. The majority of the company’s assets are located in North America, Europe, and Australia. Brookfield Property Partners' presence is growing in China, Brazil and India.
Brookfield Property Partners (BPY) was formed through a spin-off from Brookfield Asset Management in April, 2013. On April 15, 2013 shares of BPY began trading on the Toronto and New York Stock Exchanges. The new company formed by the spin-off consolidated in one place all of Brookfield’s commercial property assets. BPY also has ownership interests in General Growth Properties, Inc. (GGP) and Rouse Properties, Inc. (RSE)
During the 12-month period between October 2013 and October 2014 BPY surpassed one million square feet of leasing deals in London.
In June 2014, BPY completed the acquisition of Brookfield Office Properties (BPO) through a tender offer. On June 10, 2014 BPO was de-listed from the Toronto Stock Exchange; and ten days later it was removed from the New York Stock Exchange.
Following a $300 million renovation, the company celebrated the grand opening of Brookfield Place, New York City’s 375,000 square-foot retail space, in March, 2015.
In a joint venture with Qatar Investment Authority, BPY completed the takeover of 100 percent of London’s Canary Wharf Group (CWG), in April, 2015. The deal acquired Songbird Estates Plc., which owned 69 percent of CWG, in a deal that valued Songbird at about 2.6 billion pounds ($3.9 billion US).
Also in April, 2015 the company signed the law firm Skadden Arps to be the anchor tenant in its 2.1 million square-foot office tower in New York City, One Manhattan West.
In October, 2015, BPY acquired a Brookfield residential development in Brooklyn called “Greenpoint Landing.” BPY also sold a 44% interest in the $8 billion Manhattan West development in New York to the Qatar Investment Authority in October, 2015.
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Wikipedia