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Brookfield Asset Management Inc. Message Board

  • bam_medusa bam_medusa Sep 30, 2012 4:55 PM Flag

    BSREP/BPO - Acquisition of Thakral Holdings Group {ASX:THG}

    Brookfield is in the process of completing its takeover of Thakral Holdings Group, at A$0.81/sh.

    Thakral is an Australian real estate group which owns:
    (a) hotel/resort properties: 7 properties, for a total of 2,100 rooms;
    (b) retail and commercial properties: 8 properties, including office buildings in Australia, a shopping
    center with a monorail (!), and residential apartments in Osaka, Japan;
    (c) property developer: residential projects, plus the Wynyard Station site in Sydney.

    This is a varied collection of assets, bought at a discount to net asset value. It's not
    clear how it will all be carved out but the acquisition is being done by Brookfield's
    global real estate opportunity fund, Brookfield Strategic Real Estate Partners (BSREP),
    with an investment by Brookfield Office Properties (BPO), likely to secure the
    Wynyard Station re-development site which will provide a classic BPO play
    of building a CBD tower near a central transit hub.

 
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