Q2 Results - transcript The most important comments in the transcript ....IMHO.....if this words are anywhere close to the truth, BPY is a screaming buy.
"I will end my notes by highlighting that BPY ended the quarter with $13.5 billion of its capital invested in our global office business, comprising properties that are 92.3% leased for an average lease term of 8.6 years; $12.9 billion of its capital invested in our core U.S. retail business, comprising properties that are 94.7% leased for an average term of over six years; and we had $4.8 billion invested in our LP investment strategy, which is predominantly focused on three series of global opportunistic funds which continue to perform very well.
This $31 billion of invested capital is capitalized with approximately $2.5 billion of corporate level debt, $2.5 billion of perpetual preferred equity and $26 billion of equity attributable to our unitholders. Our IFRS value per share at the end of the quarter was $27.01 per unit."
Still long,
Vette