From BAM's shareholders letter
Something interesting came up in BAM's shareholder letter this morning, clearly regarding BPY's (and possibly BBU's) lagging market price and their market purchases. Notably, this segment comes just before a section on Retail real estate.
"Furthermore, where these discounts persist, we will also always consider more meaningful changes to these entities in order to maximize value."
The conference call today should be interesting to BPY unitholders.