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Brookfield Office Properties Inc T.BPO.PR.A

Alternate Symbol(s):  BRPPF | T.BPO.PR.C | BOPPF | T.BPO.PR.N | BKAAF | T.BPO.PR.P | BRKFF | T.BPO.PR.R | BROAF | T.BPO.PR.T | T.BPS.PR.U | T.BPO.PR.W | BRPYF | T.BPO.PR.Y | T.BPO.PR.X | T.BPO.PR.E | BKEEF | T.BPO.PR.G | BROPF | BKOFF | T.BPO.PR.I

Brookfield Office Properties Inc. is a global office property company. The Company owns, manages, and develops premier assets in the resilient markets. The Company's signature properties define the skylines of dynamic cities around the globe, including New York, Washington, D.C., Houston, Los Angeles, Toronto, Calgary, London, Berlin, Sydney and Perth. From Brookfield Places in New York City, Toronto and Perth to Bankers Hall in Calgary and Bank of America Plaza in Los Angeles, its distinguished portfolio attracts financial, energy, government and professional service organizations which have high credit ratings and maintain long-term leases.


TSX:BPO.PR.A - Post by User

Brookfield Office Properties Inc > BPO SHORT September 30, 2024
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Comment by SONOFFERGUSon Oct 09, 2024 2:22am
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Post# 36258860

RE:RE:RE:RE:BPO SHORT September 30, 2024

RE:RE:RE:RE:BPO SHORT September 30, 2024Oh hey Crazy.  Still here despite closing your big positions I see.

Yep, I'm still long As and have been rewarded for my patience.  52 days till reset, with one Bank of Canada decision on the calendar.  Reset yield at GoC5 spot (3.06%), being 10.24%, is about equal to the current yield on the Ts.  IMHO, the As should eventually trade at a lower CY than the Ts because they will have less exposure to a bad reset rate (whereas the Ts reset at 3.62% so are more likely to take a dividend hit in 4+ years).

It appears that Mr Market is betting on the turnaround in commercial RE.  Hopefully that trend continues and BPO credit risk continues to strengthen.

What did you sell me your Es at, $12.50ish?  Seems like a lifetime ago.


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