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Brookfield Property Partners: Still Undervalued After Spin-Off
- The current market environment has created situations where a company's value and price diverge.
- Brookfield Property Partners has strong fundamentals and is returning cash to shareholders.
- The stock is worth upwards of $24 per share and should get there as Wall Street notices BPY's successes.
Brookfield Property Partners Has Meaningful Upside Potential
Thu, Aug. 7, 9:02 AM
Mon, Jul. 28, 7:08 AM
- Adding to its London investments inside its "core plus strategy," Blackstone (NYSE:BX) buys the 330K square foot building in London's financial district from Brookfield Property Partners (NYSE:BPY) for $543M.
- For Brookfield, the proceeds will be reinvested into its City development program.
- It's a seller's market in London, with rents in the best office buildings up 9% last year and expected to rise a similar amount in 2014.
Dec. 20, 2013, 8:57 AM
- Brookfield Property Partners (BPY) bumps the cash portion of its offer for Brookfield Office Properties (BPO) by $1 to $20.34 per share.
- Brookfield Office shareholders can elect to receive either cash or one share of BPY for each share of BPO they own.
- Press release
- The BPO board recommends accepting the boosted offer.
- Press release
- BPO +1.4% to $19.61 premarket. BPY closed yesterday at $20.14.
Nov. 7, 2013, 10:15 AM
Nov. 1, 2013, 7:43 AM
- The additional investment will raise Brookfield Property Partners' (BPY) stake in General Growth Properties (GGP) to 32% and boost the total Brookfield consortium investment (includes BAM) over 40%.
- "We believe that the investment will earn a return that exceeds our target range of 12% to 15%," says BPY CEO Ric Clark.
- The investment will be partly funded with the sale of $435M in equity to Investment Corporation of Dubai and other institutional investors, boosting BPY's float by 28%. Still out there is Brookfield's tender for any stock of Brookfield Office Properties (BPO) it doesn't already own.
- Press release.
Sep. 30, 2013, 10:03 AM
- Those counting their winnings from the Brookfield Property Partners (BPY +1%) offer to Brookfield Office Properties (BPO +15.5%) may want to have a look at another Brookfield offering - Brookfield Canada Office Properties (BOXC).
- SA Pro's Mike Arnold - who nailed it with a bullish call on BPO just days ago - today turns eye to BOXC and also finds it offering considerable value (article embargoed until after the open tomorrow).
Sep. 30, 2013, 8:29 AM
- Brookfield Property Partners (BPY) offers to buy what it doesn't already own of Brookfield Office Properties (BPO) for $19.34 per share. BPO shareholders can accept either cash or shares of BPY (which closed Friday at $19.34) for their stake. The total value of the deal is about $5B.
- Trying to sell the deal to Brookfield Office shareholders, BPY notes they're getting a premium of 17% to the 30-day average share price. Those who accept stock in BPY will be getting a 79% increase in dividends and an 18% increase in book value.
- Easy game: SA Pro's Mike Arnold made a particularly well-timed bullish call on Brookfield Office just last Thursday.
- BPO +15.2% premarket to $19.32.
- Press release.
Jul. 1, 2013, 12:37 PM
Jun. 11, 2013, 6:56 AMBrookfield Property Partners (BPY) - through a fund managed by an affiliate of Brookfield Asset Management (BAM) - acquires Gazeley Limited from Dubai World for an undisclosed price. Gazeley is a specialist developer of large-scale logistics warehouses across the U.K., Europe, and China. It's Dubai World's first major asset sale since its debt issues brought the UAE to the brink 4 years ago. (PR) | Comment!
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