Brookfield Spins Out Commercial Real Estate Platform
Toronto-based Brookfield Asset Management Inc. has completed the spin-out of Brookfield Property Partners LP (BPY), which owns Brookfield’s commercial real estate assets. The transaction was effected by way of a special dividend valued at C$920 million. The BPY spin-out is Brookfield's third involving a real assets platform, preceded by Brookfield Infrastructure Partners and Brookfield Renewable Energy Partners, which since their inceptions have delivered annual compound returns in excess of 15%.
16 April 2013•7 mins read
