Investment Q&A

Q: BPY.UN This may be a duplicate as my Q disappeared but I did not submit.
Would you advise buying Brookfield Properties LP and is it too early as there is still a month to go for the deal to be done? I want to hold it in my RSP so prefer BPY.UN: are there any pros/cons to BPY vs BPY.UN?

Q: With the recent purchase of BPO by BPY.UN, I now face selling my BPO shares or accepting BPY.UN shares. My problem is that I do not understand BPY.UN nearly as well as I do BPO. Could you please provide me with your take on BPY.UN.
Thank you.

Q: On the website for Brookfield Property Partners (BPY.UN) the company Brookfield Properties (BPO) is listed as being part of their property portfolio. I am considering purchase of either BPY.UN or BPO, both of which provide global diversification. However, BPY.UN also provides property portfolio diversification as well (office, retail, commercial, and multi-family). BPY.UN has not been around long so it has a very short track recored. I would appreciate any information you could provide that would help in my decision. Thank you.

Q: Brookfield Property Partners, BPY.UN, is held by the public as limited partnership units and by controlling owner BAM as "Redeemable Exchangeable Units". Is it unusual to have a LP with differing types of units and if so are the public units at a disadvantage because of the difference?

Q: The spinoff from BAM of limited partnership units of BPY.UN was valued at $1.27 per BAM share (0.0574 units), which according to their website brookfieldpropertypartners.com was 7.5% of BPY in the hands of the new unitholders. This seems to value the remainder held by BAM as "REU's" (redeemable exchangeable units) at $15.66 per BAM share (42% of BAM) yet the pro forma market cap of BPY from the website is $12 billion (27% of BAM) while the market cap of BAM is $44 billion. So did BAM underspin the unit numbers or overvalue the dividend and is the structure of different types of units comprising the LP normal for an LP structure??

Also the taxability of the proposed 4% distribution is likely to be messy like BIP and BEP so I'll likely sell the odd lot of BPY I received in a cash account and hold a round lot in a registered account as it seems to be an interesting play on global real estate as opposed to the other 2 Cdn & USA Brookfield real estate subs. Does this make sense?

Finally, the BPY units appear to be trading in a downtrend; how long can we expect this to continue before we see a reversal?

Thanks, Jeff

Q: Good Morning Peter and Team,
My question has to do with the spin-off of BPY.UN from Brookfield Asset Management (BAM.A- TSX). I own a fair bit of BAM.A and will be receiving some BPY.UN shares shortly as a stock dividend. In your opinion should I look to add additional BPY.UN shares to my portfolio ??? In other words are these shares worth holding on to and, adding to, over time ??? BEP.UN and BIP.UN have certainly done very well since their respective launches.
Thank you. DL