RE:Q2 Results - transcriptHey Vette
Thanks for the post. I
had always been a huge supporter of anything Brookfield owning a full position in BPY, BEP, and BIP. I must say that I'm getting a little concerned with all their bad press lately, what looks like finanacial engineering, and complicated and secretive structure.
I just got goosed on the BEP.UN -> BEPC split as their press release clearly stated that the record date was July 27th but it turned out to be July 29th.
My wife & I had about 15% of our entire portfolio with the 3 but have now reduced our BEP and BIP a bit. For now, we'll continue to leave them as they are but they are "on watch".
We are long term buy & hold so very rarely trim or sell anythng so this is obviously very serious.
Ciao
Sarge
Vette08 wrote: 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