Brookfield Property Partners Reminds Unitholders of Substantial Issuer Bid Expiry
24 Agosto 2020 - 3:56PM
Brookfield Property Partners L.P. (“BPY”) (NASDAQ: BPY; TSX:
BPY.UN) reminds unitholders that its previously announced
substantial issuer bid (the “Offer”) to purchase up to $890
million of its limited partnership units (“BPY units”) for $12.00
per unit in cash will expire at 5:00 p.m. (Eastern time) on August
28, 2020.
The Offer documents including detailed
instructions on how to participate in the Offer were mailed to
Unitholders or their designated brokers, and are also available on
SEDAR at www.sedar.com and on EDGAR at www.sec.gov,
as well as on the BPY website bpy.brookfield.com.
Additionally, shareholders of Brookfield
Property REIT Inc. (NASDAQ: BPYU) are reminded that they have the
right to convert their BPYU shares into BPY units and subsequently
submit those BPY units for tender at $12.00 per unit prior to the
expiration of the Offer. As conversion is typically
completed in three business days, BPYU shareholders who wish to
participate in the Offer are urged to take immediate action in
order to receive their BPY units and tender to the Offer prior to
the deadline.
About Brookfield Property Partners
Brookfield Property Partners, through Brookfield
Property Partners L.P. and its subsidiary Brookfield Property REIT
Inc., is one of the world’s premier real estate companies, with
approximately $86 billion in total assets. We own and operate
iconic properties in the world’s major markets, and our global
portfolio includes office, retail, multifamily, logistics,
hospitality, self-storage, triple net lease, manufactured housing
and student housing.
Brookfield Property Partners is the flagship
listed real estate company of Brookfield Asset Management Inc., a
leading global alternative asset manager with approximately $550
billion in assets under management. More information is available
at www.brookfield.com.
Brookfield Property Partners L.P. is listed on
the Nasdaq Stock Market and the Toronto Stock Exchange. Brookfield
Property REIT Inc. is listed on the Nasdaq Stock Market. Further
information is available at bpy.brookfield.com.
Contact:
Matt Cherry Senior Vice President, Investor Relations Tel: (212)
417-7488 Email: matthew.cherry@brookfield.com
Forward Looking Statements
This press release contains “forward-looking
information” and “forward-looking statements” within the meaning of
applicable securities laws and regulations. Forward-looking
statements include statements that are predictive in nature or
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: BPYU’s
ability to complete the anticipated Offer in a timely manner or at
all; risks incidental to the ownership and operation of real estate
properties including local real estate conditions; the impact or
unanticipated impact of general economic, political and market
factors in the countries in which we do business, including as a
result of the recent global economic shutdown; 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 exchange rates;
uncertainties of real estate development or redevelopment; global
equity and capital markets and the availability of equity and debt
financing and refinancing within these markets; 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, hurricanes or
pandemics/epidemics; and other risks and factors detailed from time
to time in our documents filed with the SEC. In addition, our
future results may be impacted by risks associated with the global
economic shutdown caused by a novel strain of coronavirus, COVID-19
and the related global reduction in commerce and travel and
substantial volatility in stock markets worldwide, which may result
in a decrease of cash flows and impairment losses and/or
revaluations on our investments and real estate properties, and we
may be unable to achieve our expected returns.
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.
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