Why Brookfield Property Partners Spiked 17.7% in January
Shares of Brookfield Property Partners (NASDAQ: BPY) jumped 17.7% in January, according to data provided by S&P Global Market Intelligence, after parent Brookfield Asset Management (NYSE: BAM) kicked off the new year by offering to buy the real estate master limited partnership for $16.50 per unit.
Brookfield Property owns shopping malls and office buildings, two areas that were hit hard by the COVID-19 pandemic. The MLP resorted to partnering with shopping mall peer Simon Property Group (NYSE: SPG) to buy troubled retailers out of bankruptcy to keep their stores open and ensure its venues weren't pockmarked with vacancies.
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Source Fool.com
