Brookfield Asset Management and Brookfield Property Partners (BPY) have reached agreement for Brookfield to acquire all of the limited partnership units of BPY, representing a total consideration of $6.5 billion payable to the unitholders of BPY other than Brookfield and its affiliates.
Nick Goodman, CFO of Brookfield Asset Management, stated, “We are pleased to have reached agreement with BPY’s independent directors on a transaction we believe is appealing to BPY unitholders in many aspects and allows for greater optionality in how we manage our portfolio of high-quality real estate assets. Not only can unitholders choose to receive a meaningful portion of their consideration in cash at a significant premium, but they will also have the option to remain invested in the future upside of our real estate business and alternative asset management franchise.”
