RE:RE:Carena, if the Assets went up $19 Billion, what assets would
"are not always one and the same."
Exactly!
Looking at the BPY balance sheet (Dec 31, 2023) online, page 156:
EQUITY (millions US$)
Limited partners 8,084
General partner 4
Preferred equity 699
Non-controlling interests attributable to:
Redeemable/exchangeable and special limited partnership units 14,447
FV LTIP units of the Operating Partnership 21
Interests of others in operating subsidiaries and properties 25,332
A close look will show that shareholders equity (Brookfield) has actually declined in the year!
Page 57 explains:
As of December 31, 2023, we had $131,577 million in total assets, compared with $112,516 million at December 31, 2022. The increase of $19,061 million was primarily due to the Acquisition of Foreign Investments and other acquisition
activity during the year, partially offset by current year distributions related to the sale of a student housing asset from the prior year, a decrease in commercial properties resulting from fair value losses in our Office portfolio, property dispositions and
foreign currency translation.
Page 54 states
We recognized a net loss of $1,849 million for the year ended December 31, 2023 which compares to net income of $996 million during 2022. The decrease is primarily attributable to an increase in interest expense of $2,140 million, primarily resulting from higher interest rates, fair value losses of $673 million in the current year and a decrease in the share of earnings from equity accounted investments of $947 million. Additionally, the current year was impacted by an increase in general and administrative expense of $491 million resulting from a full year of impact from the reorganization of certain LP interests in connection with the Manager Reorganization and Acquisition of Foreign Investments.