TSX:BPO.PR.A - Post by User
Comment by
rodbharon Dec 28, 2023 9:19pm
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Post# 35803447
RE:RE:RE:RE:RE:What I NEED to hear and see from Brookfield is that they
RE:RE:RE:RE:RE:What I NEED to hear and see from Brookfield is that theyYes I saw this and it shows nothing. The 96% office occupancy refers to Core, which is 2/3rds of the real estate equity. The 86% occupancy number includes "Transitional and Developmemt". But the 86% is an average calculated on square footage NOT equity. BPY has very little equity in the low occupancy buildings. If you took out all of the lower occupancy office for example you'd remove at most $3B of equity out of a total of $30B, or just 10%. The 90% remaining would have occupancy>95%. Again, averages are distorting the reality here. Also of note, Core same-property NOI is growing at 9% year over year.