- Brookfield Property Partner's Canadian subsidiary holds many of the higher quality assets and less debt.
- It has outstanding preferred stock, which is structurally superior to much of the other debt and preferred issued by the firm.
- The issues reset with interest rates and trade well below par, so there is potential for upside if rates rise.
- The preferred shares trade at a lower level than other similar issues based on the market's perception of their credit quality, but the subsidiary that issues them is very strong.
For further details see:
Brookfield Property Partners Has A Structurally Superior Preferred