Brookfield Asset Management has made an offer to take its commercial real estate arm, Brookfield Property Partners, private in a $5.9 billion deal.
Brookfield Property has roughly $88 billion in total assets, including office buildings, malls, self-storage facilities and logistics hubs.
“The offer presents an excellent opportunity for BPY unitholders to either monetize their units in cash at a premium to recent trading prices, continue to invest with us in the upside of the portfolio via Brookfield shares, or select BPY preferred units designed for income-oriented investors who would like to maintain similar dividend income which they receive from BPY today in a preferred instrument, based on what is best for them,” said Nick Goodman, Brookfield Asset Management CFO, in a statement.
He continued, “The privatization will allow us to have greater flexibility in o
