Brookfield Office Properties Inc T.BPO.P.A

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Brookfield Office Properties Inc is a real estate investment firm. It acts as owner, operator, and developer of office and multifamily assets. The office property division defines the skylines of dynamic cities around the world, including gateway cities such as New York, London, Berlin, Toronto, and Sydney and the multifamily business owns, develops, renovates and manages approximately 40,000 high-quality rental apartment buildings in supply constrained markets of major cities such as New York and London, as well as high growth markets in the suburban U.S. In addition, it caters to tenants in financial services, government, and energy and resource sectors.

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Brookfield Office Properties Inc > Carena, if the Assets went up $19 Billion, what assets would

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Comment by Carenaon Mar 08, 2024 6:13pm

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Post# 35923797

RE:RE:RE:Carena, if the Assets went up $19 Billion, what assets would

Pierre,

You are obviously not afraid to work and roll up your sleeves.

In terms of what you have dug up here, my quick comments:

(i) I agree with you, I believe BPY's equity has declined because of the losses.

(ii) In terms of what you pasted from pg 57.....MD&A is supposed to give investors a good look into what the business has been up to...assets grew by $19 billion and $13 billion was due to "Acquisition of Foreign Investments" .....I have no idea what that is other than it seems there was a journal entry to consolidate BSREP IV which is a 2021 vintage fund (not a good one!) and the other side of the entry is debt and interests of others.

My point is, the acquisitions described on page 52 do not add up to $19 billion, so "growth" in assets does not equate to a growth in earnings because of a silly change in accounting. (Hopefully, The Crazy Trader is listening and learning).

I have griped in other posts about BPY's financials....CEO Kingston needs to do a better job. I would expect a CEO to be proud of growing his asset base over 20% and then describe in the same MD&A how this investment will be accretive to earnings. Not the case. Thankfully, we have Bruce Flatt to right the ship.

Have a great weekend,
Carena

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A junior copper-gold stock trading at a bargain of monumental proportions