Brandon Evans February 8, 2021
Brookfield Property Partners L.P. [NASDAQ: BPY] closed the trading session at $17.16 on 01/14/21. The day’s price range saw the stock hit a low of $16.9768, while the highest price level was $17.205. The company report on January 12, 2021 that Brookfield Property Partners to Hold Conference Call & Webcast of Fourth Quarter and Full-Year 2020 Financial Results Tuesday, February 2, 2021 at 11:00 AM (ET).
Brookfield Property Partners L.P. (NASDAQ: BPY, TSX: BPY.UN) announced that its fourth quarter and full-year 2020 financial results will be released before the market open on Tuesday, February 2, 2021. Analysts, investors and other interested parties are invited to participate in the company’s live conference call reviewing the results on Tuesday, February 2, 2021 at 11:00 AM (ET). Scheduled speakers are Chief Executive Officer Brian Kingston and Chief Financial Officer Bryan Davis.
Retail M&A Grew in 2020, With More Deals Expected in 2021
Total value of 2020 deals outstripped 2019, and there s plenty of liquidity among major players
Home Depot s $8.7 billion purchase of HD Supply was among the largest retail deals in 2020.
Getty Images January 12, 2021
Despite the pandemic or perhaps in part because of it the total value of U.S. retail deals transacted in 2020 was about $36 billion, nearly triple the $13.9 billion tallied in 2019.
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The Von Maur anchor at North Point Mall in the affluent North Fulton County community in Atlanta.
Brookfield Property Partners has transferred the deed to the 1.3M SF North Point Mall to its lender, New York Life Insurance Co. New York Life has tapped Trademark Property Co. to manage and operate the mall and take over plans to redevelop it.
“This is a new beginning for this property,” Trademark Property Co. Chief Investment Officer Tommy Miller told
Bisnow. “North Point is a last-generation enclosed mall. But great fundamental real estate.”
Brookfield acquired the mall when it purchased mall owner General Growth Properties in 2018. A spokesperson for New York Life confirmed that it had taken back the title to the mall, but declined to comment further.
One New York Plaza and Brookfield Property Partners CEO Brian Kingston (Photos via Brookfield)
Since CMBS markets came back to life towards the end of 2020, Brookfield has been on a roll with a series of massive single-asset refinancings, locking in the largest Manhattan real estate loans for three of the past four months.
The latest was a $835 million refinancing of One New York Plaza, originated by Wells Fargo, Goldman Sachs and BMO Harris Bank. The 50-story office building is situated at Manhattan’s southern tip in the Financial District.
The refinancing was securitized in a CMBS transaction named ONYP 2020-1NYP, and documents associated with the deal provide an up-to-date, in-depth look at the building’s finances.
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