Brookfield Property Partners Warns of Coronavirus Impact on Its Retail Portfolio
Brookfield Property Partners (NASDAQ: BPY), the real-estate arm of asset management company Brookfield Asset Management (NYSE: BAM), just released an update for shareholders about the potential impact of the COVID-19 coronavirus outbreak on its portfolio.
Brookfield Property has $200 billion worth of assets under management and owns and operates more than 450 million square feet in properties primarily across office, retail, multifamily, and hospitality, Unsurprisingly, the large-scale restriction of movement in the U.S. to contain the spread of the novel coronavirus has triggered panic among investors, sending Brookfield shares down by a whopping 53% in just the past month, as of the time of this writing.
Brookfield Property reports three segments: core office, core retail, and LP investments. The first two are the company's core operations.
Source Fool.com
