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Brookfield Office Properties Inc T.BPO.PR.A

Alternate Symbol(s):  T.BPO.PR.P | BKEEF | T.BPO.PR.R | T.BPO.PR.T | BKAAF | BRPPF | T.BPO.PR.W | BKOFF | T.BPO.PR.X | BRKFF | BRPYF | T.BPO.PR.Y | BROAF | T.BPO.PR.C | T.BPO.PR.E | T.BPO.PR.G | T.BPO.PR.I | T.BPS.PR.U | BROPF | BOPPF | T.BPO.PR.N

Brookfield Office Properties Inc. is a global office property company. The Company owns, manages, and develops premier assets in the resilient markets. The Company's signature properties define the skylines of dynamic cities around the globe, including New York, Washington, D.C., Houston, Los Angeles, Toronto, Calgary, London, Berlin, Sydney and Perth. From Brookfield Places in New York City, Toronto and Perth to Bankers Hall in Calgary and Bank of America Plaza in Los Angeles, its distinguished portfolio attracts financial, energy, government and professional service organizations which have high credit ratings and maintain long-term leases.


TSX:BPO.PR.A - Post by User

Brookfield Office Properties Inc > BN's comment re: BPY
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Comment by Carenaon Jan 23, 2024 9:51am
209 Views
Post# 35840606

RE:BN's comment re: BPY

RE:BN's comment re: BPYGood morning Alert,

As office and retail real estate began its decline a number of years ago, Bruce Flatt has been consistently talking up BN's real estate.  During this same time, the analyst community that follows BN regularly reduced its estimated value of BN's real estate empire and now most, if not all the analysts, are assigning a value of zero to its real estate. Zero!  

Furthermore, BPY's cash flow has been horrible, there was the DTLA preferred share that went to zero last February, the BPO/BPY preferred share instruments have been hammered and then S&P downgraded their debt to junk.

I am long BN and a bunch of other BN related securities, including BPO/BPY prefs.  Bruce Flatt is a Canadian business icon, no doubt.  But my view is the time is coming in 2024 and 2025 for BN to very clearly demonstrate why everyone else has it wrong on their real estate and they have it right. 

I would be just as happy for BN to chin up and take the last public remnants of their real estate empire private.  

At some point the talking has to end.

Have a great day,

Carena






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