Brookfield Property Partners L.p. - 5.750% · NASDAQ:BPYPN
Brookfield Property Partners L.p. - 5.750% — Brookfield Property Partners — Merger or Acquisition (March 2018)
8 slides from Brookfield Property Partners L.p. - 5.750%'s merger presentation, Mar 27, 2018
Slide 1: Definitive Agreement to Acquire GGP Inc.
Brookfield Property Partners LP DEFINITIVE AGREEMENT TO ACQUIRE GGP INC. INVESTOR PRESENTATION MARCH 2018
Slide 2: Transaction Summary
2 Transaction Summary The Special Committee of GGP’s Board of Directors has unanimously recommended the transaction to GGP shareholders • Brookfield Property Partners L.P. (“BPY”) and GGP Inc. (“GGP”) have entered into a definitive agreement for BPY to acquire all of the outstanding common shares of
Slide 3: Listed U.S. REIT Security
3 Listed U.S. REIT Security BPR offers GGP shareholders the benefits of BPY in the form of a U.S. REIT • To broaden the appeal of BPY to a wider universe of investors, we have created a new security in BPR which is expected to continue to qualify for tax purposes as a U.S. REIT • The public BPR shar
Slide 4: Transaction Benefits
4 Transaction Benefits Benefits to Both BPY and GGP Shareholders Benefits to BPY Unitholders Benefits to GGP Shareholders • Combined company will have assets of ~$90B • A premier, global class A real estate owner • Cost savings / synergies • Matching capital and expertise to a broader asset base • S
Slide 5: Operational Expertise
5 Operational Expertise Brookfield’s access to capital and operating skills across multiple real estate asset classes will allow the combined company to capitalize on the opportunity to transform or reposition assets with new forms of real estate and create long - term shareholder value in a way tha
Slide 6: Impact to BPY: Current vs. Pro Forma Balanced Portfolio
6 Opportunistic , ~20% Core Retail , ~30% Core Office , ~50% Opportunistic , ~15% Core Retail , ~45% Core Office , ~40% Opportunistic , ~15% Direct , ~85% Opportunistic , ~20% Public , ~30% Direct , ~50% ; Impact to BPY Current 1 Pro Forma (1) 12/31/17 proportionate equity to unitholders per IFRS Ba
Slide 7: Conclusion
7 Conclusion • Creates a ~$90B world - class, premier global real estate company • Enhances BPY’s ability to access and operate the GGP asset base • Immediately accretive to BPY’s FFO per unit • Launches an attractive U.S. REIT security • Strong future growth and densification opportunities across m
Slide 8: Important Information
8 Important Information All dollar references in the presentation are in U.S. dollars, unless noted otherwise. Additional Information and Where to Find It This communication is being made in respect of the proposed transaction contemplated by the Agreement and Plan of Merger, dat ed as of March 26,
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