BPY

Brookfield Corporation Update on Initiatives for 2023

Retrieved on: 
Friday, December 22, 2023
Brookfield Renewable Partners, BID, BPY, Acquisition, Entropy, Transition, CCS, LVMH, DBRS, NEWS, Insurance, Warburg Pincus, BCP, Growth, AEL, TSX, Barclays, Carbon, Brookfield (corporation), Champs, Canary Wharf, Financial services

BROOKFIELD, NEWS, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today released a summary of recent highlights to close out 2023, which is appended and posted on our website.

Key Points: 
  • BROOKFIELD, NEWS, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Brookfield Corporation (“Brookfield”) (NYSE: BN, TSX: BN) today released a summary of recent highlights to close out 2023, which is appended and posted on our website.
  • All told, almost $100 billion of financings were arranged across our businesses and access to capital continues to be very strong.
  • Our Brookfield Corporation (BN) credit rating was upgraded to A by DBRS, and on the back of the upgrade, earlier this month we issued $700 million of 10-year debt at 6.35%.
  • We all wish to take this opportunity to thank you for your interest in Brookfield, and we wish you and your families all the best for 2024.

Billboard Near Insurance Regulator Warns Against Brookfield’s Potential Takeover of American Equity Life Insurance, Citing UNITE HERE Report

Retrieved on: 
Wednesday, October 11, 2023
Commercial Building & Real Estate, Construction & Property, Professional Services, Insurance, Multimedia, BPY, NYSE, S&P Global, Acquisition, Business, Equity, Risk, Bermuda, AEL, UNITE, Brookfield Property Partners, Clinical research coordinator, Bloomberg, Airport, American National Insurance Company, ANAT, Life, Research, Sale, HERE, Financial services

UNITE HERE launched a billboard today warning customers of American Equity Investment Life Insurance Company (NYSE:AEL), that it may be purchased by the Bermuda-based affiliate of Brookfield (NYSE:BN).

Key Points: 
  • UNITE HERE launched a billboard today warning customers of American Equity Investment Life Insurance Company (NYSE:AEL), that it may be purchased by the Bermuda-based affiliate of Brookfield (NYSE:BN).
  • The billboard is located less than a mile from the Iowa Insurance Division, the state agency that would need to approve any sale of Des Moines-based American Equity.
  • View the full release here: https://www.businesswire.com/news/home/20231011402266/en/
    “Are you ready for Brookfield’s ‘office real estate apocalypse’?” the billboard asks.
  • The financial health of Brookfield’s commercial real estate holdings may be of interest to Iowa regulators and American Equity policyholders because of events following Brookfield’s acquisition of another life insurance company, American National (NASDAQ:ANAT).

UNITE HERE launches website compiling evidence of Brookfield’s defaulted and distressed commercial real estate for stakeholders, regulators and the public

Retrieved on: 
Thursday, August 24, 2023
Professional Services, Business, Other Professional Services, Insurance, Finance, Asset Management, BAM, BPY, Airport, Texas Department of Insurance, Research, HERE, AEL, Brookfield (corporation), American National Insurance Company, Acquisition, Investment, Risk, UNITE, TDI, NYSE, Brookfield Property Partners, Cryptocurrency

The financial health of Brookfield’s commercial real estate holdings may be of particular interest to current or potential policyholders of American National Insurance Group, the Texas-based insurer acquired by Brookfield in 2022.

Key Points: 
  • The financial health of Brookfield’s commercial real estate holdings may be of particular interest to current or potential policyholders of American National Insurance Group, the Texas-based insurer acquired by Brookfield in 2022.
  • UNITE HERE’s research has uncovered over $1 billion in debt instruments that appear to be related to Brookfield’s real estate holdings on American National’s 2022 sworn Annual Statement.
  • “In the absence of guidance from regulators, we believe current and future policyholders should have as many of the facts as possible.
  • American National has at least $1 billion of Brookfield-related real estate debt on its investment books backing its customers’ policies.

UNITE HERE Alerts American National Insurance Agents to Dramatic Shift in Company’s Investment Strategy Since Acquisition by Brookfield Reinsurance

Retrieved on: 
Thursday, July 27, 2023
Finance, Business, Professional Services, Asset Management, Insurance, Canary Wharf, BPY, Disclosure, Brookfield Property Partners, Airport, HERE, Sale, Government, American National Insurance Company, IRS tax forms, Investment, UNITE, Letter, Bermuda, NYSE, Financial services

UNITE HERE wrote to over 1,100 agents of American National Insurance Group on July 24, 2023, warning them that their company’s takeover by Bermuda-domiciled Brookfield Reinsurance (NYSE: BNRE) has brought about a shift in investment strategy for the assets backing the insurance products they sell, and urging them to contact their state insurance regulators for information.

Key Points: 
  • UNITE HERE wrote to over 1,100 agents of American National Insurance Group on July 24, 2023, warning them that their company’s takeover by Bermuda-domiciled Brookfield Reinsurance (NYSE: BNRE) has brought about a shift in investment strategy for the assets backing the insurance products they sell, and urging them to contact their state insurance regulators for information.
  • Many of these investments were purchased from other Brookfield affiliates.
  • The letter asserts that related-party transactions normally require disclosure, but most of these investments were listed as “unaffiliated” in American National’s sworn annual statement.
  • “Current and future American National policyholders may not know that their insurance company has undergone such a dramatic shift in its investment strategy, or that their policies are now backed by investments in the ‘inherently risky’ private credit industry or the ‘office real estate apocalypse,’” the letter argues.

Brookfield Property Partners Extends Deadline for Joint Tax Election on Privatization Transaction for Eligible Unitholders

Retrieved on: 
Friday, March 11, 2022
BAM, Housing, Combination, Privatization, Foundation, Brookfield Property Partners, Brookfield Asset Management, NYSE, GLOBE, BPY, Letter, TSX, Insurance, NEWS

BROOKFIELD NEWS, March 11, 2022 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (BAM) (NYSE: BAM; TSX: BAM.A) and Brookfield Property Partners L.P. (BPY) today announced that they have agreed to extend the deadline for the submission of the joint tax election form made available to eligible Canadian unitholders of Brookfield Property Partners (BPY), who participated in the privatization transaction of BPY, completed on July 26th, 2021.

Key Points: 
  • BROOKFIELD NEWS, March 11, 2022 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (BAM) (NYSE: BAM; TSX: BAM.A) and Brookfield Property Partners L.P. (BPY) today announced that they have agreed to extend the deadline for the submission of the joint tax election form made available to eligible Canadian unitholders of Brookfield Property Partners (BPY), who participated in the privatization transaction of BPY, completed on July 26th, 2021.
  • Rollover treatment as described above only applies to any BAM shares received by eligible unitholders in the transaction and is not applicable to any cash or BPY preferred units that unitholders may have received.
  • The joint tax election deadline has been extended through Thursday, March 31st, 2022, and the corresponding form must be properly completed prior to this deadline.
  • Brookfield Property Partners is a subsidiary of Brookfield Asset Management Inc., a leading global alternative asset manager with approximately US$690 billion in assets under management.

BlockFi Expands Retail Suite with Two New Product Offerings

Retrieved on: 
Tuesday, January 18, 2022
Bitcoin, Income, Credit card, FDIC, BPY, Adoption, CEO, Digital, Government, Solution, Founder, SIPC, Cryptocurrency, Wallet

Both BlockFi Personalized Yield and BlockFi Wallet will be available within the coming weeks in a phased launch.

Key Points: 
  • Both BlockFi Personalized Yield and BlockFi Wallet will be available within the coming weeks in a phased launch.
  • "BlockFi aims to offer crypto wealth management solutions to all crypto enthusiasts, regardless of where they are on their crypto asset journey.
  • The additions of Personalized Yield and Wallet ensure that we can support every segment of the crypto asset spectrum," said Zac Prince, CEO and Founder of BlockFi.
  • BlockFi Personalized Yield and BlockFi Wallet are the latest retail products available to BlockFi clients and enhance an already robust suite of crypto financial products, which includes BlockFi Loan , BlockFi Interest Account , and the world's first crypto rewards credit card, BlockFi Rewards Visa Signature Credit Card .

KBRA Credit Profile Releases Research – Brookfield Property Partners Walks Away From CMBS Malls Ahead of Acquisition

Retrieved on: 
Friday, April 30, 2021
Banking, Professional services, Insurance, Finance, Companies, Financial markets, Brookfield Properties Retail Group, Brookfield Property Partners, Real estate, BPY, KBRA, Commercial mortgage-backed security, Brookfield Asset Management, KBRA Credit Profile, KBRA, KBRA CREDIT PROFILE, KBRA

b'KBRA Credit Profile (KCP), a division of KBRA Analytics, releases a special report on mall loans sponsored by Brookfield Property Partners (BPY) and the pending acquisition of BPY by Canada-based Brookfield Asset Management (BAM).

Key Points: 
  • b'KBRA Credit Profile (KCP), a division of KBRA Analytics, releases a special report on mall loans sponsored by Brookfield Property Partners (BPY) and the pending acquisition of BPY by Canada-based Brookfield Asset Management (BAM).
  • KCP examined its $725 billion coverage universe of over 1,100 CMBS transactions and identified 77 malls collateralizing 73 loans\xe2\x80\x94$14.65 billion by allocated loan amount (ALA)\xe2\x80\x94across 106 transactions with exposure to BPY sponsorship.
  • The acquisition is expected to close in Q3 2021; however, the transaction remains subject to the approval of a majority of BPY public unitholders as well as the Ontario Superior Court of Justice.
  • KBRA\xe2\x80\x99s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210430005384/en/\n'

UNITE HERE: Brookfield Asset Management’s Offer to Buyout Brookfield Property Partners Is Less Than What Brookfield Has Said the Assets Are Worth

Retrieved on: 
Thursday, February 11, 2021
Commercial Building & Real Estate, Construction & Property, Lodging, Finance, Travel, Banking, Professional services, REIT, Companies, Brookfield Properties Retail Group, Brookfield Property Partners, Economy of New York City, New York City, BPY, Brookfield Asset Management, New York Stock Exchange, Brookfield, Illinois, Brookfield

UNITE HERE, the hospitality union, has released a report questioning the price of Brookfield Asset Managements [NYSE: BAM] offer to buy out public investors of Brookfield Property Partners [NASDAQ: BPY] at $16.50 per unit.

Key Points: 
  • UNITE HERE, the hospitality union, has released a report questioning the price of Brookfield Asset Managements [NYSE: BAM] offer to buy out public investors of Brookfield Property Partners [NASDAQ: BPY] at $16.50 per unit.
  • The report analyzes pre- and post-pandemic statements by BPY and BAM consistently arguing that BPY is undervalued in the public markets and concludes that those statements point to a price between $19.50-$21.00 per unit.
  • The report presents these and other Brookfield-related quotes and substantiation for the following key points.
  • BAM has amassed $75 billion of capital and dry powder to invest in distressed assets and the post-pandemic economy.