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Brookfield Properties
Brookfield Properties
Brookfield Properties
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Brookfield Properties is a North American subsidiary of commercial real estate firm Brookfield Property Partners, which itself is a subsidiary of alternative asset management company Brookfield Corporation.[2] It is responsible for the asset management of the company's real estate portfolio, including office, multi-family residential, retail, hospitality, and logistics buildings.[3] Brookfield Properties acquired General Growth Properties, one of the largest mall operators in the U.S., and merged it into Brookfield Properties in 2018.[4][5] As of 2024, Brookfield Properties operates corporate offices in nine countries around the world, including China,[6] India, Germany and the US.

Key Information

History

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Brookfield's 1225 Connecticut Avenue in Washington, D.C.[7]

The company's roots go back to the early 1900s in Montreal, Quebec. It was known then as the Canadian Arena Company and operated the Montreal Arena. In a partnership with Toronto investors, it built Arena Gardens in Toronto. In the 1910s, it opened an office and began business in Brazil,[8] while in the 1920s, it built the Montreal Forum to house the Montreal Maroons and Montreal Canadiens National Hockey League franchises; from 1935 to 1957, the company also owned the Canadiens. The company was acquired by Edper Investments in 1970. During the 1970s, when the company was known as Carena Properties, it expanded its business into commercial real estate.[9] After the Montreal Forum closed, the Forum was sold to competitor Canderel Properties.

In 1989, Carena acquired a 33% interest in Olympia & York Developments Ltd., developers of the World Financial Center in New York,[10] and in 1990, Brookfield acquired a 50% interest in a portfolio of office properties in Toronto, Denver and Minneapolis from BCE Development Corporation. In 1994, this holding was increased to 100% and included BCE Place, now Brookfield Place, Brookfield Properties' flagship office complex in Toronto.[11]

In 1996, Carena acquired a 46% interest in World Financial Properties, a corporation formed from the bankruptcy of Olympia & York, which included three of the four towers of the World Financial Center, One Liberty Plaza, 245 Park Avenue in Manhattan. That year, Carena changed its name to Brookfield Properties Corporation.[10]

In 1997, Brookfield Properties purchased 45% of Gentra, Inc., owner of several commercial properties in Toronto.[10]

2000s

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In 2000, Brookfield Properties acquired a portfolio of Calgary office properties, including the Bankers Hall complex.[10]

In April 2001, the company lost out to Silverstein Properties, Inc., on the lease of the World Trade Center in New York City before the complex was destroyed during the September 11 attacks.[12]

In 2003, Brookfield Properties completed the spin-off of Brookfield Homes, now part of Brookfield Residential, Brookfield Asset Management's U.S.-based home building business.[10]

In 2005, Brookfield Properties acquired a 25% interest in O&Y Properties Corporation and O&Y Real Estate Investment Trust, expanding the company's real estate portfolio in four Canadian cities.[13]

In 2006, the company acquired Trizec Properties, which was founded in 1960 by William Zeckendorf, builder of Place Ville Marie.[14]

2010s

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In 2010, it entered into London and Australian markets by acquiring the 100 Bishopsgate development site in the City of London and 16 properties encompassing 8 million SF in three major Australian cities.[15]

On Earth Day on April 22, 2010, the company was listed as one of Canada's "The Green 30" Organizations Based On Eco-Friendly Programs and Practices based on an employee poll.[16]

In 2011, Brookfield Properties divested its residential group consisting of Carma Developers and Brookfield Homes (Ontario) Ltd. to merge with Brookfield Homes Corporation to form Brookfield Residential Properties Inc.[17] That same year, Brookfield Properties changed its name to Brookfield Office Properties to reflect its focus on commercial office properties.[18][19]

In 2013, Brookfield Office Properties Inc. became the largest office landlord in Los Angeles after acquiring MPG Office Trust Inc.'s downtown portfolio.[20] MPG had been one of Southern California's most prominent real estate developers and a longtime L.A. office tower owner. The MPG buildings they acquired include the Gas Company Tower, 777 Tower and the Wells Fargo Center on Bunker Hill.[21][22]

In June 2014, Brookfield Property Partners (BPY) completed their acquisition of Brookfield Office Properties (BPO). BPO common shares were de-listed from the Toronto Stock Exchange as of June 10, 2014, and from the New York Stock Exchange on June 20, 2014. Brookfield Property Partners is now the sole owner of all of the issued and outstanding common shares of BPO.[23]

In January 2016, Brookfield Properties purchased KIC, along with KIC's Berlin office.[24]

In 2016, Brookfield Asset Management, which owned 33 percent of Rouse Properties, made an unsolicited offer to purchase the rest of the company.[25][26] A purchase agreement was eventually reached, valuing the company at $2.8 billion.[27] Brookfield's acquisition of Rouse Properties was completed on July 6, 2016.[28][29] The Rouse Properties brand would ultimately be absorbed into Brookfield.

On August 28, 2018, Brookfield Property Partners acquired Chicago-based real estate investment trust and shopping mall operator GGP Inc. (General Growth Properties), and merged its assets into Brookfield Properties, for $9 billion.[30] Brookfield immediately sold a 49% interest in each of three former GGP super-regional malls to CBRE Group, and a 49% interest in three other former GGP malls to TIAA subsidiary Nuveen, seeking additional joint ventures for its newly acquired malls.[31] The acquisition added 162 shopping malls comprising approximately 146 million sq ft (13.6 million m2) of gross leasable area to Brookfield's portfolio.

In December 2018, Brookfield Properties took over the management of Forest City Realty Trust's real estate portfolio after the company was acquired by a fund affiliated with Brookfield Asset Management.[32]

2020s

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In September 2020, the company's retail group announced a layoff of 20% of its workforce of about 2,000 people.[33]

Around June 2021, the company opened an office in Sydney, Australia.[34]

In May 2023, Brookfield Properties announced a purchase of a 115,000 square foot Doral warehouse at 1500 Northwest 95th Avenue for $16 million.[35]

In January 2023, Brookfield Properties purchased subsidiaries from Deutsche Bank A.G., acquiring Deutsche Bank's London and New York offices.[36]

In February 2024, the company opened offices in India and the UAE.[37]

See also

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References

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[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Brookfield Properties

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Brookfield Properties is a leading global company that owns, operates, and develops a diverse portfolio of commercial, , retail, multifamily, and properties across more than 30 countries. As the primary operating platform for within the Brookfield ecosystem, it manages over 1,100 properties totaling more than 390 million square feet of space, with an additional 37 million square feet under active development. The company prioritizes sustainable practices, community impact, and creating integrated experiences that blend work, living, shopping, and leisure spaces. The roots of Brookfield's operations trace back to the 1950s, when the used proceeds from their Company holdings to invest in Canadian properties, including the iconic . In 1996, the firm acquired significant assets from the bankrupt Olympia & York, including London's and New York City's World Financial Center (now Brookfield Place), establishing a strong foothold in major global markets. This period marked the adoption of the Brookfield name for its activities, evolving into Brookfield Properties as a of Brookfield Property Partners, which in turn operates under , a multinational alternative asset manager with over $1 trillion in (as of 2025). A pivotal expansion occurred in 2018 when Brookfield Property Partners acquired General Growth Properties (GGP) for approximately $15 billion, adding over 100 premier retail centers to the portfolio and solidifying Brookfield Properties' position as one of the world's largest retail landlords. Today, Brookfield Properties employs around 25,000 people and oversees more than 500 million square feet of commercial space globally, with a focus on high-quality, institutional-grade assets in key urban centers such as New York, , , and . Notable projects include the mixed-use development in New York, spanning over 7 million square feet, and the firm's growing multifamily portfolio in , , and . Under the leadership of President Bobby Swennes, the company integrates operational expertise with capital from the broader Brookfield to drive long-term value, innovation, and environmental responsibility across its operations.

Overview

Founding and Evolution

The origins of Brookfield Properties trace back to the broader history of Brookfield Corporation, which began in 1899 with the founding of The Tramway, Light and Power Co. by Canadian investors in , marking the company's initial foray into and utilities. This early venture laid the groundwork for Brookfield's long-term approach to asset management, though its real estate operations evolved separately through Canadian roots. In the early 1900s, the company's real estate heritage emerged in with the establishment of the Canadian Arena Company Limited in 1923, which focused on building and operating sports and entertainment venues. A key milestone came in 1924 when the company constructed the in just 159 days, creating a landmark arena that hosted hockey games, concerts, and other events for decades. From 1935 to 1957, the Canadian Arena Company also owned the hockey team, integrating sports ownership with its venue operations until the team was sold to the . The company's trajectory shifted significantly in 1971 when it was acquired by Edper Investments, the of the , for approximately $15 million, leading to a as Carena Properties. Under this new structure, Carena pivoted from facilities toward commercial , acquiring office buildings and retail spaces in major Canadian cities to build a diversified portfolio. In 1996, the entity was renamed Brookfield Properties Corporation, formalizing its identity as a dedicated manager and operator, with an initial emphasis on Canadian properties such as office towers in and before pursuing international opportunities. This rebranding aligned it more closely with Brookfield's expanding framework, eventually positioning it as a of .

Ownership and Financials

Brookfield Properties operates as the primary real estate operating subsidiary of L.P. (BPP), a publicly traded focused on owning, operating, and developing commercial properties globally. BPP, in turn, is integrated within the broader (BN), which holds a 100% stake in Brookfield Property Group LLC (BPG), the entity encompassing Brookfield Properties' operations. This structure positions Brookfield Properties as a key component of Brookfield Corporation's platform, following the 2022 spin-off and of Brookfield into the current corporate entity. The company's headquarters are located at Brookfield Place, , in , reflecting its strategic focus on major urban markets, while its operational roots trace back to , , where maintains its global base. Ownership evolution post-1996 began with the adoption of the Brookfield branding and initial public listing on the in 1996, followed by increased stakes in key affiliates and a 2002 consolidation that raised Brookfield's interest in related financial properties to 98.5%. Subsequent integrations included the 2012 formation of as a master to consolidate holdings, enhancing liquidity and investor access through dual listings on the NYSE and TSX. As of 2025, Brookfield Properties contributes to Brookfield's segment, which manages approximately $272 billion in across commercial, multifamily, retail, and hospitality sectors. The entity's trailing twelve-month stands at approximately $8 billion (in USD) as of 2025, underscoring its scale in property operations and leasing. Key economic indicators include total assets for exceeding $102 billion as of late 2024, with ongoing portfolio adjustments such as the partial sale of interests in Brookfield Real Estate Trust in early 2025 supporting stability, and a of approximately 25,000 employees dedicated to development, , and initiatives. These metrics highlight Brookfield Properties' role in driving value within Brookfield Corporation's $1 trillion-plus overall .

History

Origins and Early Development (1899–1999)

The origins of Brookfield Properties trace back to 1899, when Canadian entrepreneurs William Mackenzie and Frederick Stark Pearson founded the São Paulo Tramway, Light and Power Company in to develop electric tramways and power infrastructure in and Rio de Janeiro. This venture, incorporated in as a Canadian company, expanded rapidly into utilities, becoming known as Brazilian Traction, Light and Power Company, Ltd. by 1912, and establishing a strong presence in Brazil's electrification during the early . By the mid-20th century, the company, renamed Brascan in 1969, began diversifying beyond utilities, setting the stage for investments in North American through its affiliation with the Edper Investments group controlled by the . In parallel, the company's early Canadian activities emerged through the formation of the Canadian Arena Company in 1923, which constructed the iconic in 1924 as a multi-purpose arena for hockey and entertainment, marking an initial focus on urban sports and leisure facilities in . This entity acquired ownership of the hockey team in 1935, holding it until 1957 when it was sold to the , thereby illustrating Brookfield's early diversification into entertainment-linked amid 's growing urban development. During this period, the company managed arena operations and expanded its footprint in Canadian commercial properties, laying foundational ties to sports venues and city infrastructure. The 1970s brought significant consolidation when Edper Investments acquired control of the Canadian Arena Company in 1971 for $15 million, integrating it into the broader Brascan conglomerate and rebranding it as Carena Properties to emphasize . Under Edper's backing, Carena expanded during the , acquiring stakes in major Canadian firms and focusing on high-quality commercial assets in urban centers like and . This era solidified Carena's role in Canadian , with investments in office towers and retail spaces that capitalized on economic recovery. A pivotal international push occurred in , when Carena acquired a 33% interest in Olympia & York Developments, gaining exposure to premier global properties including in . Following Olympia & York's bankruptcy in 1992, Carena secured additional stakes, culminating in the 1996 acquisition of its core assets, such as New York City's World Financial Center (later renamed Brookfield Place), which marked the company's initial entry into the U.S. market. That same year, amid this expansion, Carena rebranded to Brookfield Properties Corporation, reflecting its evolution from arena management to a diversified powerhouse with growing international holdings by the close of the 1990s.

Growth and Acquisitions (2000–2009)

In the early 2000s, Brookfield Properties expanded its presence in through strategic acquisitions of properties, particularly in . In June 2000, the company acquired a portfolio of four towers in and , totaling approximately 2.5 million square feet, which strengthened its foothold in key sector markets and supported growth in the region's cores. This move aligned with Brookfield's focus on high-quality, income-producing assets in stable North American markets, enhancing its operational scale in ahead of broader U.S. expansion. A pivotal milestone came in 2006 with the $8.9 billion acquisition of Trizec Properties in partnership with Blackstone, which significantly bolstered Brookfield's U.S. office portfolio. The deal added 61 high-quality office properties encompassing about 40 million square feet across nine major markets, including prominent towers in such as Plaza and Plaza. This transaction doubled Brookfield's U.S. holdings to over 45 million square feet, positioning the company as a major player in gateway cities like New York, , and , while integrating Trizec's management platforms for enhanced efficiency. Complementing its office growth, Brookfield built out its retail portfolio through the 2005 acquisition of O&Y Properties Corporation and related assets in a consortium deal valued at approximately C$2.1 billion. This added a mix of retail and assets, including significant enclosed centers and mixed-use developments across , expanding Brookfield's diversified North American holdings to over 100 million square feet by the mid-2000s. During this period, Brookfield positioned BCE Place—later rebranded as Brookfield Place—in as its flagship project, a premier mixed-use complex featuring the 51-story Tower and heritage-integrated retail spaces, which exemplified the company's emphasis on iconic, high-occupancy developments. The tested Brookfield's resilience, prompting focused asset stabilization measures amid market volatility. The company maintained strong occupancy at 94.9% across its portfolio by leasing 6.4 million square feet in 2008, while reducing near-term lease expirations to 3.3% for 2009 through key renewals with tenants like and . To bolster liquidity, Brookfield executed strategic dispositions totaling $420 million, including the sale of a 50% interest in Toronto's Tower for $200 million in net proceeds, and refinanced $1.3 billion in debt to stagger maturities and preserve its investment-grade status. It also curtailed new development starts, completing only pre-committed projects like those in its 2.2 million-square-foot pipeline at 65% pre-leased, while recognizing a $140 million impairment on underperforming assets such as its Minneapolis holdings. By the end of the decade, these efforts had solidified Brookfield's North American retail and office portfolio, reaching approximately 120 million square feet with a emphasis on diversified, long-term leases averaging seven years to blue-chip tenants. This robust domestic base, characterized by below-market rents and low leverage (loan-to-value ratios of 55-65%), provided and positioned the company for selective international opportunities in the following decade.

Major Expansions (2010–2019)

During the , Brookfield Properties significantly expanded its global footprint, transitioning from a primarily North American operator to a diversified international powerhouse through strategic acquisitions in and high-profile mergers. This period marked a deliberate push into , Asia-Pacific, and enhanced U.S. retail and office sectors, leveraging economic recovery post-financial crisis to acquire premium assets at opportune valuations. In 2010, Brookfield entered the Australian market by acquiring a portfolio of 16 premier office properties comprising approximately 8 million square feet from Brookfield Asset Management for $1.4 billion, establishing a strong presence in and Melbourne's Grade-A office sectors. That same year, the company expanded into the U.S. retail sector through a significant stake in General Growth Properties (GGP), acquiring over $39 billion in assets. These moves diversified Brookfield's holdings beyond traditional office spaces into retail and development assets, aligning with global trends. By 2013, Brookfield deepened its U.S. West Coast presence with the acquisition of MPG Office Trust for approximately $426 million, adding iconic skyscrapers such as the and , totaling over 5 million square feet of Class-A office space in the financial district. This transaction solidified Brookfield as the dominant landlord in ' central , enhancing its portfolio with high-occupancy, trophy assets amid a rebounding commercial market. Concurrently, the company expanded in by completing phased acquisitions of office buildings in the City financial district, including a $829 million portfolio from plc featuring premier properties like 20 development site. In 2016, Brookfield absorbed Rouse Properties in a $2.8 billion all-cash deal, significantly bolstering its U.S. retail holdings with 37 regional shopping centers spanning 26 million square feet across 19 states, including high-traffic malls like The Shops at Riverside in . This acquisition, which included Brookfield's prior 30% stake, integrated complementary retail assets into its operations, improving scale and operational synergies in the competitive enclosed-mall sector. The decade's pinnacle came in 2018 with two transformative mergers that catapulted Brookfield's portfolio to unprecedented scale. First, completed the $9.25 billion cash acquisition of GGP, incorporating 125 premier U.S. shopping malls encompassing about 125 million square feet of gross leasable area, along with and mixed-use developments, to create one of the world's largest retail platforms. Shortly thereafter, Brookfield acquired for $11.4 billion, adding diverse assets including 6.3 million square feet of , 2.3 million square feet of life sciences facilities, 2.2 million square feet of retail, and 18,500 multifamily units, with key holdings in New York, , and . These integrations under expanded the company's global holdings to over 300 properties across , retail, multifamily, and sectors in more than 30 countries, emphasizing a balanced, resilient portfolio resilient to market cycles.

Contemporary Developments (2020–Present)

The significantly impacted Brookfield Properties in 2020, leading to a $2 billion net loss for its parent entity due to asset value reassessments amid widespread retail disruptions. In response, the company laid off approximately 20% of its retail workforce, affecting around 400 employees across and field leasing agents to align operations with a reduced portfolio scale. In 2021, Brookfield Properties expanded its presence in with the opening of Brookfield Place , a $2 billion in the Wynyard precinct that reached practical completion and began operations in May, enhancing the company's office and retail offerings in the region. This move supported broader portfolio growth in , including initial forays into assets as part of a strategic diversification. By 2023, Brookfield Properties signaled a push into industrial and sectors with the $16 million acquisition of a 115,477-square-foot at 1500 N.W. 95th Avenue in , from USA Bouquet Co. in a sale-leaseback transaction, reflecting adaptation to e-commerce-driven demand. In 2024, the company strengthened its footprint in emerging markets by opening offices in and the , aligning with regional growth opportunities in office and residential sectors. Alok Aggarwal was appointed for Brookfield Properties in in February, overseeing strategic leadership in , development, , and operations. Throughout 2025, Brookfield Properties navigated market challenges with a series of strategic transactions. In April, it acquired Arches at Hidden Creek, a 432-unit multifamily residential community in Chandler, Arizona, for $95.5 million from LivCor, bolstering its U.S. housing portfolio. In June, the company conducted executive layoffs in New York, targeting roles in office leasing and asset management as part of operational restructuring. July saw the $2.2 billion sale of its Fundamental Income Properties net lease platform to Starwood Property Trust, encompassing 467 properties across 44 U.S. states, 12 million square feet, and 92 tenants with a 17-year weighted average lease term. In November, Brookfield divested the 197,000-square-foot office building at 1400 K Street NW in Washington, D.C., to Taicoon Property Partners for $35.5 million, with the buyer planning a $10 million renovation to attract tenants. Concurrently, it pursued international expansion through Brookfield India REIT's acquisition of the 7.7 million-square-foot Ecoworld office campus in Bengaluru for ₹13,125 crore (approximately $1.5 billion), marking a 30% portfolio increase and entry into India's key tech hub. In early 2025, Brookfield acquired a stake in Tokyo's Meguro Gajoen commercial complex, and in November announced plans to accelerate investments across Japan's office, retail, and logistics sectors. These moves underscore Brookfield Properties' ongoing pivot toward amid volatile markets, reducing in-house operational roles and emphasizing third-party fee-based revenue streams similar to peers like Blackstone.

Business Operations

Real Estate Sectors

Brookfield Properties operates across five primary sectors: , retail, multifamily residential, , and , managing a diversified portfolio that emphasizes high-quality, sustainable assets designed to generate long-term income. The company integrates these sectors into mixed-use developments to create vibrant urban environments, leveraging its global expertise to adapt to evolving market demands such as trends and disruptions. In the office sector, Brookfield Properties focuses on repositioning urban towers through data-driven renovations that enhance workplace experiences, transforming older structures into premium, amenity-rich spaces to attract tenants seeking high-quality environments in dense city centers. This approach prioritizes modern amenities, flexible layouts, and technology integration to support hybrid work models, with a portfolio that includes major urban holdings optimized for occupancy and lease stability. The retail sector encompasses traditional malls acquired through the 2018 GGP merger and innovative mixed-use destinations, where Brookfield Properties adapts to pressures by curating experiential spaces that blend physical and digital retail. Strategies include partnering with digitally native brands to establish brick-and-mortar presences, fostering community hubs with entertainment and events to drive foot traffic and tenant collaboration, resulting in high occupancy rates across approximately 120 U.S. assets totaling over 108 million square feet. For , Brookfield Properties develops and manages apartment communities emphasizing innovation and resident services, with over 80 properties across 18 U.S. states and expanding internationally into markets like and . These developments feature high-quality living spaces integrated into urban mixed-use projects, focusing on features such as energy-efficient designs to meet growing demand for urban . In , the company oversees with a portfolio of 18,000 keys worldwide, positioning as destinations that prioritize guest experiences through world-class amenities, dining, and retail integrations. Strategies emphasize operational excellence and contextual design to complement local surroundings, with 200,000 square feet under development to expand high-standard offerings. The sector involves warehouse and distribution facilities tailored for modern supply chains, with Brookfield Properties expanding holdings through acquisitions like the 2021 purchase of the Logistics Center in , and the July 2025 acquisition of a 53-property industrial portfolio adding 3.6 million square feet in key U.S. markets, to support fulfillment needs. In alone, as of late 2025, this includes over 390 properties encompassing over 75 million square feet, strategically located for efficient commerce hubs across five continents. Brookfield Properties' development approach combines repositioning of existing assets, such as iconic urban properties, with ground-up new builds, maintaining a pipeline of over 55 million square feet and 37 million square feet under construction across 115+ sites. is central, with 100% of new core developments achieving Gold or equivalent standards and a commitment to net-zero emissions by 2050, alongside efforts to minimize environmental impact through procurement—totaling 1.2 million MWh—and 93% of core offices holding sustainability designations. Community impact drives these initiatives, as projects blend sectors to enhance neighborhood vitality and tenant partnerships. Portfolio management centers on over 1,100 high-value properties globally, spanning over 400 million square feet as of , with a focus on income generation through expert leasing, financing, and operations tailored to each sector's dynamics. Sector-specific strategies, such as retail's integration and logistics' , ensure resilience, with recent leasing of 15 million square feet in and retail underscoring adaptive performance.

Geographic Reach

Brookfield Properties maintains operations across more than nine countries as of 2025, with a core focus on , including the and , where it manages extensive office, retail, and multifamily portfolios. In , the company is active in the and , emphasizing mixed-use developments that integrate commercial and residential spaces. The region forms a key growth area, encompassing , , , and , while recent expansions have extended into the , particularly the . The company's regional hubs anchor its global strategy, with New York and serving as primary centers for North American operations, coordinating and development across major urban markets. In , functions as the operational base, overseeing investments in sustainable infrastructure and urban revitalization projects. For , Mumbai supports India-focused initiatives, while manages Australian properties, facilitating localized leasing and tenant relations in these dynamic markets. Expansion tactics in 2024–2025 have targeted high-growth opportunities, including a formal entry into the UAE through a $1 billion with Lunate for residential developments across the UAE and broader . In Japan, Brookfield deepened its investments with a stake in a Tokyo mixed-use complex as part of $1.6 billion in deals, aiming to scale its portfolio to $10 billion over five years amid rising demand. Local adaptations reflect tailored strategies to regional market needs; in , Brookfield prioritizes large-scale office campuses, exemplified by the 2025 acquisition of the 7.7 million square foot Ecoworld complex in Bengaluru for over $1.5 billion, enhancing its Grade-A portfolio in tech hubs. In , the emphasis is on sustainable urban retail, with initiatives like Berlin's achieving a 70% reduction in CO2 emissions through innovative mixed-use designs that blend , dining, and green spaces.

Portfolio and Properties

Iconic Assets in North America

Brookfield Properties maintains a prominent portfolio of iconic assets across , featuring high-profile complexes, retail centers, and emerging residential and industrial developments that anchor major urban markets. These properties, often redeveloped or acquired through strategic investments, exemplify the company's focus on premium, strategically located assets that drive economic activity and community vitality. In the United States, Brookfield's holdings include landmark towers in New York and , alongside a vast retail network from its 2018 acquisition of General Growth Properties (GGP). In , the portfolio highlights integrated financial districts in and , with historical ties to significant cultural sites like the original . In , Brookfield Place stands as a flagship asset, encompassing approximately 8 million square feet of Class A office space, retail, and public amenities along the waterfront in . Originally developed as the World Financial Center and rebranded after extensive post-9/11 renovations, the complex includes four office towers connected by a glass-enclosed atrium and features tenant spaces for major firms such as and . The property's $250 million retail overhaul in 2011 introduced luxury fashion outlets, waterfront dining, and enhanced public esplanades, solidifying its role as a hub for commerce and leisure. In , Brookfield's downtown portfolio historically included the , , and Wells Fargo Center, totaling over 4 million square feet of premium office space with on-site amenities like conference centers, banking services, and fitness facilities. While the and faced defaults in 2023 and were subsequently sold amid market challenges, the Wells Fargo Center remains a key holding, offering twin towers with modernized interiors and direct access to lifestyle programming through the Halo app. These LA assets underscore Brookfield's emphasis on in high-barrier markets. The company's retail dominance in North America was amplified by the $15 billion acquisition of GGP in August 2018, which added 125 best-in-class malls and urban retail destinations spanning approximately 121 million square feet across the U.S. This portfolio, representing about 8% of high-quality U.S. retail space at the time of acquisition, includes experiential centers like Ala Moana in Hawaii and Sawgrass Mills in Florida, blending shopping, dining, and entertainment to foster community engagement. In Canada, Brookfield Place in Toronto serves as an iconic mixed-use complex covering 2.1 hectares in the financial district, with 3.2 million square feet of office space in towers like Bay Wellington, integrated retail galleries, and cultural attractions such as the Hockey Hall of Fame. The site's preservation of 19th-century heritage facades within the modern Allen Lambert Galleria highlights Brookfield's commitment to blending history with contemporary design. Similarly, Bankers Hall in Calgary comprises a 2.7 million square foot landmark with twin 52-story office towers, a 220,000 square foot sky-lit retail podium attracting 145,000 daily visitors, and connectivity to the city's Plus 15 walkway system. Brookfield's historical roots trace to the 1924 construction of the Montreal Forum by its predecessor, Canadian Arena Corporation, whose site later supported redevelopment into mixed-use commercial space, though current ownership has shifted. Recent North American expansions demonstrate Brookfield's diversification into residential and sectors. In April 2025, the company acquired Arches at Hidden Creek, a 432-unit multifamily community in , for $95.5 million, featuring one- to three-bedroom apartments with modern amenities like in-unit washers/dryers and pet-friendly policies near Phoenix's employment hubs. In May 2023, Brookfield purchased a 115,477 square foot industrial warehouse at 1500 NW 95th Avenue in , for $16 million, strategically located near for distribution and operations. Brookfield's North American assets characteristically emphasize mixed-use designs that integrate , retail, residential, and elements to enhance urban livability, with a strong focus on initiatives. The company targets net-zero emissions by 2050, achieving over 55 million kWh of procurement in 2023 and a 50% reduction in Scope 1 and 2 greenhouse gases by 2030 across its portfolio. Properties like Brookfield Place incorporate energy-efficient systems, measures, and green certifications, while tenant amenities—ranging from on-site wellness facilities and curated dining to digital platforms like Halo for personalized services—prioritize occupant experience and operational efficiency.

International Holdings

Brookfield Properties has significantly expanded its portfolio beyond through strategic acquisitions and developments in , , the , and select other regions, emphasizing high-quality office, retail, , and multifamily assets. This diversification supports the company's global scale, with international holdings contributing to over 400 million square feet of managed commercial space across more than 1,100 properties worldwide as of 2025. In emerging markets, particularly in and the , these assets represent a key growth area, with Brookfield aiming to triple its $40 billion in regional by 2030 through targeted investments in office campuses, facilities, and residential developments. In , Brookfield entered the market in the early 2010s, focusing on premium office spaces in and retail-logistics assets in . The company acquired development rights to 100 in 's financial district in 2010, completing the 37-storey, 900,000 Grade A office tower in 2020, which features efficient floor plates and sustainable design elements. Additional holdings include 30 Fenchurch Street, a 610,000 known for its panoramic views and integrated retail; 99 , a modern office complex; Tower; Principal Place, a 630,000 Foster + Partners-designed building; and Milton Gate, offering 204,500 of high-spec office space in the EC2 district. In , early expansions included the 2016 acquisition of in , a mixed-use landmark with significant retail components developed in partnership with an Asian . More recent moves encompass a 2024 purchase of a majority stake in 's Alexa shopping center for nearly $1.4 billion, reimagining it as a hybrid mall-CBD destination, and logistics properties like the warehouse in , alongside a 2023 office opening that bolstered over €10 billion in equity investments since 2021. Brookfield's Asia-Pacific presence underscores its focus on dynamic urban and logistics markets, with notable expansions in , , , and . In , the portfolio includes 13 iconic office buildings across , , and Perth central business districts, highlighted by the 2021 completion of Brookfield Place Sydney, a premium mixed-use tower housing tenants like NAB and serving as the company's headquarters with approximately 800,000 square feet of office and retail space. In , Brookfield India REIT announced in November 2025 its agreement to acquire the 48-acre Ecoworld office campus in Bengaluru for ₹13,125 crore ($1.5 billion), adding 7.7 million square feet of Grade A space on the Outer Ring Road and expanding the portfolio by 31% to 32.3 million square feet, targeting one of the country's strongest office markets. Japan investments accelerated in 2025, including a strategic stake in a commercial complex and two deals totaling $1.6 billion for a landmark hotel and large land plot, part of a broader $10 billion commitment over five years to real estate, data centers, and other sectors. In , Brookfield manages 24 properties totaling about 2.5 million square meters, including 's One East mixed-use complex with three A-Grade office towers and retail; the Platinum-certified Greenland Center (GHC) site; multifamily residences in ; and the 2023-acquired Jiashan Park logistics facility with 56,000 square meters of warehouse space. In the , Brookfield has prioritized the UAE with office and emerging residential assets. The ICD Brookfield Place in , a LEED-certified and hub, spans 990,000 square feet of office space and 160,000 square feet of retail, anchoring the company's regional footprint. In 2025, Brookfield partnered with Abu Dhabi's Lunate on a $1 billion to develop build-to-sell residential properties across the , focusing on high-demand urban areas. Additionally, the company made its first investment in May 2025, acquiring two parks to scale operations in . Elsewhere, Brookfield maintains ties in , tracing back to its 1899 origins with the founding of the Tramway, Light and Power Company, evolving into a portfolio of sustainable office, retail, and multifamily properties hosting major global firms in key economic sectors. These international holdings collectively enhance Brookfield's resilience and growth in emerging markets, where urbanization and e-commerce trends drive demand for versatile real estate solutions.

Leadership and Governance

Executive Leadership

Brookfield Properties' executive oversees the company's global operations in , , and strategic acquisitions across diverse sectors including , retail, , multifamily, and . As of 2025, the team emphasizes regional expertise and a shift toward an asset management-focused model, following organizational changes including executive layoffs in June. Lowell Baron serves as Chief Executive Officer of Brookfield's Real Estate Group, which encompasses Brookfield Properties, a role he assumed in June 2025 after succeeding Kingston, who transitioned to executive chair. A 20-year veteran of Brookfield, previously held positions in investments and operations, with a focus on expanding the portfolio through targeted acquisitions and operational efficiencies. Under his leadership, the group manages over $270 billion in assets, prioritizing and regional growth strategies. Key regional leaders include Alok Aggarwal, for India , who directs sector operations and development in the Indian market. Devin Barnwell acts as President of , overseeing , leasing, and expansion initiatives across the region. Rob Devereux is for the , responsible for portfolio oversight in , multifamily, and sectors, including major projects like ICD Brookfield Place. In specialized areas, Troy Benson serves as Chief Revenue Officer for the Retail division, leading leasing, , and strategies for retail properties. Yasmine Beltamar, of Projects in the , manages project delivery across logistics, multifamily, and office developments. For , Angela Ball joined in 2025 as Commercial Director of for U.S. investments, focusing on driving and operational performance for assets. The June 2025 layoffs targeted New York-based executives in leasing and , part of a broader pivot to streamline operations and enhance capabilities amid market shifts. Collectively, these executives handle oversight of development projects, asset optimization, and tailored regional strategies to support Brookfield Properties' global portfolio.

Board of Directors

The Board of Directors of L.P., the primary entity through which operates, consists of five members as of November 2025. Jeffrey Blidner serves as Chair and Affiliated Director, bringing extensive experience in and from his long-standing role at Brookfield. The independent directors include Stephen DeNardo, who chairs the and has a background in accounting and ; Lou Maroun, with expertise in ; and Lars Rodert, focused on and strategic development. Brian Kingston serves as Management and Affiliated Director; he is Executive Chair of Brookfield's , having previously been CEO of the Real Estate Group. The board's structure features a mix of two affiliated directors and three independent directors to ensure balanced and compliance with best practices. This composition supports effective oversight while maintaining in key decision-making processes. Key responsibilities of the board include providing strategic oversight of the partnership's operations, managing enterprise risks, and establishing policies on and environmental initiatives. The board also reviews and approves major transactions, such as financing and of property interests. Directors are appointed by the shareholder of the BPY General Partner, a wholly-owned subsidiary of , ensuring alignment with the parent company's broader strategies and standards. This structure facilitates coordinated decision-making across Brookfield's portfolio.

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