Property: Overview

 


               

Brookfield Property Group is Brookfield’s most significant investment platform, made up of our sector-specific portfolios in the office, retail, multifamily, industrial and hotel sectors. With approximately $113 billion of real estate assets under management and interests in over 340 million square feet of commercial space globally, we are one of the world’s largest and most sophisticated owners, operators and investors in property.

Brookfield has built its property platforms through the integration of formative portfolio acquisitions and single asset transactions over many decades. Our collaborative and disciplined approach to investing has been successful throughout ever-changing market cycles. Having invested over $24 billion of equity capital into real estate transactions since 1987, we have a significant track record of delivering strong, risk-adjusted returns to our investors in our many listed company and private partnership vehicles.

Brookfield Property Group is comprised of a deep pool of over 255 talented and experienced operational, asset management and investment professionals, supported by over 15,200 operational staff located in over 30 locations around the world. We are proud of our demonstrated operational expertise and our in-house property management, leasing, brokerage, development and construction capabilities adding value to our properties and de-risking assets.

Office Properties*
Brookfield is a global leader in the ownership and management of high-quality office portfolios, owning, developing and managing premier office properties in the U.S., Canada, Australia and the UK, through a series of public and private vehicles. Brookfield Office Properties forms the basis of Brookfield’s global office platform.

Brookfield’s office portfolio is comprised of 209 office properties totaling approximately 105 million square feet of commercial space. These properties are primarily located in the downtown centres of New York, Washington, D.C., Houston, Los Angeles, Toronto, Calgary, Ottawa, Sydney, Melbourne and Perth. Some of our landmark properties include Brookfield Place New York, Brookfield Place Toronto, Bank of America Plaza in Los Angeles, Bankers Hall in Calgary, Darling Park in Sydney and Brookfield Place Perth.

Retail*
Brookfield owns and manages interests in 173 retail assets, predominantly in the U.S. and Brazil. These properties encompass approximately 155 million square feet of retail space, primarily concentrated in the high-quality, U.S. based malls of General Growth Properties, Inc (“GGP”). GGP is the second largest mall owner in the U.S. Brookfield has a 33% fully-diluted interest in GGP and a 34% interest in Rouse Properties, Inc ("Rouse"), a US-based mall company that specializes in the re-development and re-vitalization of Class-B shopping malls. Rouse has a portfolio of 35 malls encompassing approximately 25 million square feet.

In addition, Brookfield is a significant owner of shopping centers in Brazil. These properties are concentrated in premier locations in urban centres, and hold a dominant position in their respective trade areas. The portfolio includes fortress assets such as the Rio Sul Shopping Center in Rio de Janeiro and Shopping Pátio Paulista and Shopping Pátio Higienópolis in São Paulo.

Industrial
In partnership with institutional investors, Brookfield owns interests in approximately 47 million square feet of premier logistics assets with prime land sites to develop an additional 63 million square feet of distribution facilities near major markets and transport routes in North America, Europe, and China, making it one of the largest global players in the industrial and logistics sector.

We recently announced the creation of a new brand for our global logistics property platform. The companies, to be known as IDI Gazeley, part of Brookfield Logistics Properties, form the consolidated branding of Brookfield’s key logistics assets – Industrial Developments International (“IDI”) and Gazeley – under a single brand identity.

Gazeley, the world’s longest running specialist developer of logistics warehouses and distribution parks with assets in key strategic locations in the UK, Western Europe and China, was acquired by Brookfield and its institutional partners in June 2013. IDI, a leading owner and operator of industrial distribution facilities across North America since 1989, is the result of two acquisitions by Brookfield and its institutional partners in December 2012 and October 2013.

Multifamily
Fairfield Residential (“Fairfield”) forms the basis of Brookfield’s multifamily platform in North America. Brookfield owns approximately 65% of Farifield.

Fairfield is one of the largest vertically-integrated multifamily companies in the U.S. and provides a range of services including acquisitions, development, construction, renovation, property management and asset management. As of January 2013, Fairfield was ranked by the National Multi Housing Council (“NMHC”) as the 18th largest apartment manager in the U.S., and currently has approximately 50,000 apartments under management. Brookfield owns over 22,000 multifamily units through its private funds.

Hotel
Brookfield recently acquired Thayer Lodging Group (“Thayer”), a highly-regarded private hotel investor/operator and asset management firm. Thayer targets to acquire full-service hotels in high-barrier-to-entry markets at significant discounts to replacement cost and actively manages the assets, undertaking extensive capital improvements where necessary, and increasing NAV through value-add strategies and implementing operational improvements to drive cash-flow growth. Additionally, Brookfield is invested in seven other hotels with 7,200 rooms including the Atlantis Hotel in the Bahamas and the Hard Rock Hotel & Casino in Las Vegas.

* Includes office and retail property assets held in our 22% interest in Canary Wharf.

For more information on Brookfield's residential development & construction projects around the globe, please visit our Selected Investments section.