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Brookfield Property Partners LP | 6.50% Class A Cumulative Redeemable Perpetual Preferred Units, Series 1 (BPYPP)

Prospectus excerpt:  Distributions on the Series 1 Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on the last day of March, June, September and December when, as and if declared by Brookfield Property Partners Limited, our general partner. The pro-rated initial distribution on the Series 1 Preferred Units offered hereby, if declared, will be payable on July 1, 2019 in an amount equal to approximately $0.446875 per Series 1 Preferred Unit. Distributions on the Series 1 Preferred Units will be payable out of amounts legally available therefor at a rate equal to 6.50% per annum of the $25.00 liquidation preference.

Full Prospectus PDF », BPY Page »

Series:A
Redeemable?:Yes
Call Date:3/31/2024
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:6,400,000
Overallotment:960,000
Liquidation Preference:$25
Recent Market Price:$25.15
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.15 (0.60%)
Annualized Dividend:1.625
Recent Ex-Date:11/30/2021
Current Yield:6.46%
Original Coupon:6.50%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn BPYPP's Rating
Brookfield Property Partners owns, operates, and invests in commercial and other property on a global basis. Co.'s segments are: Core Office, which consists of interests in various office properties that are located in New York, U.S., London, U.K., Los Angeles, U.S., Washington, D.C., U.S., Sydney, Australia, Toronto, Canada, and Berlin, Germany, and active office and multifamily developments; Core Retail, which consists of various retail properties in the U.S.; and LP Investments, in which Co. has interests in various real estate sectors around the globe including office, retail, multifamily, logistics, hospitality, self-storage, triple net lease, manufactured housing and student housing.

Preferred: BPYPP


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Name: 
Brookfield Property Partners LP
Website: 
www.brookfieldpropertypartners.com
Sector: 
Real Estate

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