Brookfield Office Properties Inc T.BPO.PR.A

Any other REITS Growing Massively Like BPY ???? The entire

[CrazyTrader]

reit sector is suffering badly, BPY included.   But something "different" happening here with BPY compared to most.   The company is growing massively.  Q3 shows ~$17 Billion increase in the Balance sheet over 2022.   Increase in revenues, increase equity as well as liabilities.  

While it seems everyone else is "shrinking", BPY is growing massively.

Are there any other reits out there doing the same????   Maybe a BlackRock reit of some sort????

I view this "growth" positively.     But I'm not sure how exactly this will improve the income statement.

Opinions?   

All just my opinion/view/thinking/expecting a terrible earnings report but also seeing revenues growing and equity growing along side with the liabilities something I haven't seen elsewhere.

[Carena]

Hi Crazy, I am not sure how you can view the growth "positively" and not know how it will improve the income statement. BN BAM BIP BEP and BBU all released their financials weeks ago and here we are still waiting for BPY's filing of its financials.....maybe they are still booking journal entries into their accounting system for all their "growth"....lol. BN issued $750

[CrazyTrader]

Carena, growing equity and revenues, I view positively..... relative to what you see going on with other reits.    If the growth was All by Debt, I would be worried, but Equity is being Added also.     It's usually positive if "insiders" add to equity and not run for the doors. All just my opinion/view/thinking/guessing/hoping.

[Carena]

Hi again, OK, injecting capital into the equity base of a 100% owned subsidiary like BPY is a certainly a good thing for us pref holders  - no question.   There is also no question in my mind BN has and will continue to stand behind their 100% interest in BPY. I am sure this is all connected to BN raising so much debt for their own balance sheet in last 3 months.  I am

[CrazyTrader]

Carena, is BPY even required to report on the open market?  It's been privatized.  Like I said.... BPY is/seems "different" from all the other reit stocks out there.   BPY balance sheet is growing massively compared to most others.   BPY revenues are increasing compared to most others.  Still the income statement bleeding red like most others

[Carena]

Good morning, BPY has public securities and so yes, they have to file like any other public company. BPO does not have to file because BPY has the guarantee in place.  If BN puts the same guarantee in for BPY, then BPY would not have to file. BPY is very different than all other REITs.  The biggest difference is BPY has Bruce Flatt behind it. Carena

[CrazyTrader]

So is what you are saying is that any subsidary won't need to report if parent company "guarantee" the dividend????   All just my opinion/view/thinking/wondering

[SONOFFERGUS]

Hi Crazy. BPY has to file because of the BPO prefs and other public securities it guarantees. Part of my thesis is that BN would love to get rid of BPY's public reporting, thereby dimming the spotlight on both the portfolio and the things BN wants to do to prop it up. Perhaps the easiest route would be for BN to guarantee those securities, which would be a very good thing!