BROOKFIELD NEWS, Feb. 28, 2017 (GLOBE NEWSWIRE) -- Brookfield Office Properties Inc., a subsidiary of Brookfield
Property Partners L.P., announced today that it intends to:
- Redeem 4,760,750 of its outstanding Class AAA Preference Shares, Series J (TSX:BPO.PR.J) (the “Called
Series J Shares”), all of which are beneficially held by CDS & Co., as nominee of CDS Clearing and Depositary
Services Inc., for cash on March 31, 2017. The redemption price for each such share will be C$25.00 plus accrued and unpaid
dividends thereon (which as of March 31, 2017 will be C$0), representing a total redemption price of C$25.00. The Called Series J
Shares will be redeemed on a “pro rata” basis, so that each holder of Class AAA Preference Shares, Series J will have
62.9267290063042% of their Class AAA Preference Shares, Series J redeemed. The pro rata call will be based upon participants’
holdings at the close of business on March 29, 2017.
- Redeem all 5,909,250 of its outstanding Class AAA Preference Shares, Series K (TSX:BPO.PR.K) (the “Series K
Shares”), all of which are beneficially held by CDS & Co., as nominee of CDS Clearing and Depositary Services Inc., for
cash on March 31, 2017. The redemption price for each such share will be C$25.00 plus accrued and unpaid dividends thereon (which
as of March 31, 2017 will be C$0), representing a total redemption price of C$25.00.
Notices of Redemption for both series have been sent to CDS & Co. Payment of the redemption price will be made on or after March
31, 2017 through the facilities of CDS & Co. to all beneficial holders of the Called Series J Shares and all beneficial holders of
the Series K Shares.
About Brookfield Office Properties
Brookfield Office Properties Inc. is a subsidiary of Brookfield Property Partners L.P., one of the world’s
largest commercial real estate companies, with approximately $65 billion in total assets. Brookfield Office Properties owns,
develops and manages premier office properties in the United States, Canada, Australia and Europe. Its portfolio is comprised of
interests in 116 properties totaling 88 million square feet in the downtown cores of New York, Washington, D.C., Houston, Los
Angeles, Toronto, Calgary, Ottawa, London, Berlin, Sydney, Melbourne and Perth, making Brookfield Office Properties the global
leader in the ownership and management of office assets. Landmark properties include Brookfield Places in New York City, Toronto
and Perth, Bank of America Plaza in Los Angeles, Bankers Hall in Calgary and Darling Park in Sydney.
Brookfield Contact:
Matt Cherry, Vice President, Investor Relations & Communications
(212) 417-7488; matthew.cherry@brookfield.com
Forward-Looking Statements
This press release contains “forward-looking information” within the meaning of Canadian provincial securities
laws and applicable regulations. Forward-looking statements include statements that are predictive in nature, depend upon or refer
to future events or conditions, include statements regarding our operations, business, financial condition, expected financial
results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook, as well as
the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words
such as “expects,” “anticipates,” “plans,” “believes,” “estimates,” “seeks,” “intends,” “targets,” “projects,” “forecasts,”
“likely,” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may,” “will,”
“should,” “would” and “could.”
Although we believe that our anticipated future results, performance or achievements expressed or implied by the
forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place
undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other
factors, many of which are beyond our control, which may cause our actual results, performance or achievements to differ materially
from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and
information.
Factors that could cause actual results to differ materially from those contemplated or implied by
forward-looking statements include, but are not limited to: risks incidental to the ownership and operation of real estate
properties including local real estate conditions; the impact of general economic, political and market factors in the countries in
which we do business; the ability to enter into new leases or renew leases on favorable terms; business competition; dependence on
tenants’ financial condition; the use of debt to finance our business; the behavior of financial markets, including fluctuations in
interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and
refinancing within these markets; uncertainties of real estate development or redevelopment; risks relating to our insurance
coverage; the possible impact of international conflicts and other developments including terrorist acts; potential environmental
liabilities; changes in tax laws and other tax related risks; dependence on management personnel; illiquidity of investments; the
ability to complete and effectively integrate acquisitions into existing operations and the ability to attain expected benefits
therefrom; operational and reputational risks; catastrophic events, such as earthquakes and hurricanes; and other risks and factors
detailed from time to time in our documents filed with the securities regulators in Canada.
We caution that the foregoing list of important factors that may affect future results is not exhaustive. When
relying on our forward-looking statements or information, investors and others should carefully consider the foregoing factors and
other uncertainties and potential events. Except as required by law, we undertake no obligation to publicly update or revise any
forward- looking statements or information, whether written or oral, that may be as a result of new information, future events or
otherwise.
