Brookfield Property Partners L.P. BPY

BPY Defaults on Washington area property

[CANCDN]

So, defaulting on loans while paying out full dividend. Smart

[RetiredCEO]

This post has been removed in accordance with Community Policy

[YieldChaser88]

Smart. Bunkering cash to buy other assets at a discount. or refi this one with better terms. Lender will eventually take them to court and they say: "OK here is your cash" and they shave off 0.5 to 1% of the interest rate with a new, perhaps higher, or similar loan.

[Lacas24]

Didn't we go through this already? Must be a slow day at the RioCan board. It is a non recourse mortgage. That means without any backslash they can leave it. They threaten to walk and in turn lenders will agree for better terms. It is called leverage. This is economics 101. You should know that or get out of the REIT game.

[Lacas24]

Also you failed to mention which property we are talking about. That's the one of the most successful upscale Washington Gallery Mall and Brookfield owns a measly 262 million dollars on it. It is a 97% rented mall. Kingston clearly said they are not going to default on It but that doesn't suit your trolling agenda. You remind me of the leftist media. Without any research just use the

[dileas48s]

Providing this link for clarity: https://therealdeal.com/2020/09/02/brookfield-falls-behind-on-d-c-area-mall-debt-does-not-expect-default/ key quote "Brookfield falls behind on D.C. area mall debt, does not expect default"

[rad10]

Devil is in the details!  long common and preferred.