Brookfield Office Properties Inc T.BPO.PR.A

RE:If you want "Permanent Capital", capital you don't need

[Carena]

Good morning Crazy,

I believe that Brookfield's referral to "permanent" or "perpetual" capital is capital that can't be called back or more crudely, capital they never have to pay back.  This allows them to protection when they get blindsided, such as COVID or the inflation shock of the last 2 years.   

The BPO preferreds are exactly such capital.  They also know if they are unable to meet their
preferred share obligations, they will never be welcomed back to the preferred share market in Canada where they have raised billions across all their companies.

I termed the DTLA situation a "venture" because that happened to be the structure of a deal to acquire some LA buildings back in like 2014.   In my opinion,  owning BPO pref shares is nothing like the DTLA preferred share situation.  Just my opinion.

On another note, I see the 6-K on the financials and formal BPY dividend declarations are out.  We live to see another day!  Lol.

Hopefully this helps,
Carena