RE:RE:From BAM's shareholders letterThose who need dividend income will not like the direct share exchange but many will take 2:1 exchange - roughly valuing BPY over C$20 per share. In my view, BAM will wait for the recovery until 2020 or early 2021 before offering direct share exchange.
Referring to a section from BAM'S 2019 annual report
"Lastly, these retail centers sit on 100+ acre land parcels which happen to be located in the most densely populated
and wealthiest cities in the U.S. We are only starting to redevelop the land around them with offices, apartments,
condominiums, hotels and other property uses. The next 50 years will offer us significant upside in what we view
as one of the highest-quality land redevelopment portfolios ever assembled in the United States."
Apparently BAM intends on holding these retail assets for some time.. shawshank2 wrote: Yes i always wondered if bpy would just get sucked into the mothership think of all the money they would save and make. Problem is it may be a direct share exchange which i dont think the market would like