Q: as an owner of this Preferred I am interested in how Brookfield Properties is doing but never seem to be able to access their latest financials...lack of know how on my part...would you be kind enough to summarize the latest financial performance for me ...please and thank you
5i Research Answer:
Financials for public companies are filed at www.sedarplus.com, however BPO is not public. It has some documents filed but not financials. As a wholly-owned Brookfield subsidiary it has the 'backing' of Brookfield but there is not an explicit, legal guarantee to the preferreds. It has, like others, experienced higher vacancy rates, but we do not think its credit quality has been materially impaired. While not legal guarantee, we are fairly confident Brookfield would support its subsidiary to maintain the integrity of the Brookfield group of companies.