RE:RE:RE:RE:RE: Mall Giants Bought J.C. Penney For a Bargain Their corporate structure is convoluted but Brookfield Property Group and Property Partners LP are the same. It has 3 segments. Core office, core retail and LP Investment. This deal belongs to BPY not BAM. I could be wrong of course but I don't see BAM anywhere on any press release. Market cap doesn't tell the right picture. Just alone cash and their undrawn credit line is almost as big. Their asset value is 88 billion actually.