BAM - Brookfield Property Partners: Substantial Buyback Further Validates Core Thesis
Brookfield Property Partners L.P. (BPY, BPR) reported Q4-2018 results. We examined the numbers and give you our take below on this global real estate play.
Radical pace of dispositions
Considering that by December 31, 2018, it had been under 6 months since the General Growth Properties acquisition closed, BPY has accomplished a rather substantial amount. While BPY made net investments that drained it of $571 million during the quarter, it also disposed assets that generated $1.425 billion. These investments were exited at about 5% over IFRS values, which adds further confidence in