|Bid||64.41 x 0|
|Ask||64.42 x 0|
|Day's Range||64.34 - 65.06|
|52 Week Range||49.01 - 65.06|
|Beta (3Y Monthly)||1.03|
|PE Ratio (TTM)||18.93|
|Forward Dividend & Yield||0.84 (1.35%)|
|1y Target Est||52.00|
Brookfield Properties hopes to demolish the Transportation Security Administration's Pentagon City headquarters and replace it with a mixed-use development poised to benefit from the pending arrival of Amazon.com Inc.'s second headquarters. The Toronto-based developer recently submitted plans to Arlington County to raze the TSA's headquarters at 601-701 12th St. S, asserting the the two buildings, built in 1983 and combining for 560,000 square feet, are obsolete. The TSA plans to move to new space in Springfield, and Venable LLP attorney Kendrick Whitmore, who is representing Brookfield in its development application, argued in supporting documents that the space cannot be marketed to new office tenants once the agency moves out.
A year ago, Cardone Industries signed a long-term lease — in excess of 10 years — to relocate its corporate offices and administrative functions from Northeast Philadelphia into a 53,920-square-foot building at 15 Kings Grant Way in Bala Cynwyd. The location was selected for its convenience and the space would be newly fit out and modern. Lease signed and deal done, Keystone Property Group moved ahead with securing a $14.75 million loan for the redevelopment of the vacant office building and work to build out the space is underway and will continue until completed. Despite that, Cardone may not be moving into its new space after all. “It has been put on hold but not canceled,” said George Zauflik about the Bala Cynwyd move in an earlier interview with the Philadelphia Business Journal this week.
Cardone Industries, a remanufacturer of vehicle auto parts that has a 45-year history in Philadelphia, is now in the control of Brookfield Asset Management Inc., a Toronto firm that was part of a $240 million loan extended to the company last fall. This means the Cardone family, which started the company and has seen its third-generation shepherd its growth as well as weather ups and downs through various economic cycles, has relinquished control over the company but maintains a minority interest in it. As part of the transition, 60 Cardone administrative employees have been let go from the company, said George Zauflik, senior vice president at the company. More layoffs are not expected this year though the company went through a round last year, he said. In addition, a planned move for its corporate offices to Bala Cynwyd has been put on hold.
If you are looking to invest in assets that generate reliable income, Brookfield Infrastructure and Kinder aren't interchangeable dividend plays.
The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL ** Manulife Financial Corp is making ...
2019 First Quarter Conference CallDate: Thursday, May 9, 2019Time: 11:00 a.m. (Eastern Time)Annual Meeting of ShareholdersDate: Friday, June 14, 2019Time: 10:30 a.m..
Meanwhile, Mangrove Partners and an entity controlled by C. John Wilder’s Bluescape Energy Partners, the two activist investors, filed an application with regulators in Ontario and Alberta on Tuesday seeking to force a second shareholder vote on the company’s proposed C$750 million ($563 million )investment from Brookfield Asset Management Inc., separating that tally from the company’s ballot on its directors. "Like any TransAlta shareholder, we cannot yet know whether the Company’s proposed investment from Brookfield is in the best interest of all shareholders, given signs of a rushed negotiation and the company’s limited disclosures," said Nathaniel August, Mangrove’s president, in a statement. When it announced the deal, TransAlta said it didn’t require a shareholder vote.
Canada's main stock index was on track to snap a five-day run of gains on Monday after financial stocks declined and as the chances of ratifying a pact between the United States, Mexico and Canada this ...
These two high-yield partnerships both have exciting prospects. Which is the better buy is a tough decision -- here's a primer to help you decide.
Brookfield Strategic Real Estate Partners III is considering buying three office towers and a retail mall at Greenland Huangpu Center from a unit of Greenland Hong Kong Holdings Ltd., the people said, asking not to be identified because the details aren’t public. A transaction of that size would rank among the biggest commercial property deals in China by a foreign firm. Singapore’s CapitaLand Ltd. and GIC Pte spent 12.8 billion yuan ($1.9 billion) in November for Shanghai’s tallest twin towers, located along the city’s North Bund.
Mangrove Partners and an entity controlled by C. John Wilder’s Bluescape Energy Partners LLC asked TransAlta to issue Wilder C$150 million ($113 million) of discounted shares as part of a proposed settlement agreement last month. TransAlta, which instead agreed to a C$750 million investment from Brookfield Asset Management Inc., said the activists should have accepted its offer to put Wilder and a mutually agreed-upon director on its board. “Had the dissidents accepted our offer, Mr. Wilder would have a seat at the Board table,” TransAlta Chairman Gordon Giffin said in a statement.
Concerns over rising interest rates and expected further rate increases have hit several stocks hard during the fourth quarter. NASDAQ and Russell 2000 indices were already in correction territory. More importantly, Russell 2000 ETF (IWM) underperformed the larger S&P 500 ETF (SPY) by nearly 7 percentage points in the fourth quarter. Hedge funds and institutional […]
BROOKFIELD, March 29, 2019 -- Brookfield Asset Management Inc. (NYSE: BAM) (TSX: BAM.A) (Euronext: BAMA) announced today that it has filed its 2018 annual materials on.
Hedge funds are known to underperform the bull markets but that's not because they are bad at investing. Truth be told, most hedge fund managers and other smaller players within this industry are very smart and skilled investors. Of course, they may also make wrong bets in some instances, but no one knows what the […]
An ethos of collaboration is deeply rooted in the 120-year-old Canadian firm and permeates its open-floor offices worldwide, top executives say. “It’s the opposite of an eat-what-you-kill mentality,” Ron Bloom, a managing partner in Brookfield’s private equity group, said in an interview at Bloomberg’s headquarters in New York.
Brookfield could also increase its stake in the Calgary-based utility to about 9 percent under certain conditions, according to a statement Monday. The deal allows Brookfield to convert its investment into an equity interest in TransAlta’s Alberta hydro assets at a later date. The investment is being made through Brookfield’s publicly traded renewable-energy arm, Brookfield Renewable Partners.
Canada's TransAlta Corp said on Monday Brookfield Asset Management will invest C$750 million ($559.1 million) in the company as it aims to become a clean energy producer by 2025. The investment from Brookfield Renewable Partners, majority owned by the Canada-based asset manager, will be convertible to an ownership in TransAlta's hydro assets in Alberta in the future, TransAlta said in a statement. Brookfield currently owns about 5 percent in the company.
BROOKFIELD, NEWS, March 20, 2019 -- Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM, Euronext: BAMA) today announced that after having taken into account all election.
One of India’s storied hotel brands, Leela, is going to the house of Canadian company Brookfield Asset Management, along with four of five Leela hotels owned by insolvent Hotel Leelaventure. The deal was disclosed by Hotel Leelaventure in a stock exchange filing earlier this week. A Brookfield-sponsored private real estate fund will pay $576.4 million […] The post Can India’s Leela Hotel Brand Be the Same Under Asset Manager Brookfield? appeared first on Skift.
India's Hotel Leela Venture Ltd will sell four of its hotels and a property to a fund sponsored by Canada's Brookfield Asset Management for 39.50 billion rupees ($576.41 million), as part of its restructuring, it said on Monday. The company will sell four Leela hotels at Bengaluru, Chennai, Delhi and Udaipur and its property in Agra to Brookfield. The proceeds of the deal, which will also see the company's owners transfer the 'Leela' brand to Brookfield for all hospitality businesses, will be used to repay existing lenders of the company, Hotel Leela Venture said in a statement https://www.nseindia.com/corporate/HOTELEELA_18032019171014_BMoutcome18032019sw_156.pdf.