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Brookfield Office Properties Provides Update on Conversion Option for Its Series T Preference Shares

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BROOKFIELD NEWS, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Brookfield Office Properties Inc. (“Brookfield”), a subsidiary of Brookfield Property Partners, today announced that after having taken into account all election notices following the December 17, 2018 conversion deadline for the Class AAA Preference Shares, Series T (the “Series T Shares”) (TSX:BPO.PR.T) tendered for conversion into Class AAA Preference Shares, Series U (the “Series U Shares”), the holders of Series T Shares are not entitled to convert their Series T Shares into Series U Shares. There were 65,139 Series T Shares tendered for conversion, which is less than the 1,000,000 shares required to give effect to conversions into Series U Shares.

The Series T Shares will pay on a quarterly basis, for the five-year period beginning on January 1, 2019, as and when declared by the board of directors of Brookfield, a fixed dividend based on an annual dividend rate of 5.383% per annum (C$0.336438 per share per quarter).

About Brookfield Office Properties

Brookfield Office Properties Inc. is a subsidiary of Brookfield Property Partners L.P., one of the world’s largest commercial real estate companies, with approximately $86 billion in total assets. For more information, please visit www.bpoinvestor.com.

Brookfield Contact:

Sherif El-Azzazi
Director, Investor Relations & Communications
Tel.: (212) 417-7169
Email: sherif.elazzazi@brookfield.com