Brookfield Property Partners L.P. (BPY) Reports Q3 FFO of $0.31

Brookfield Property Partners L.P. (NYSE: BPY) reported Q3 FFO of $0.31, versus $0.28 reported last year.
Net income attributable to unitholders per unit was $0.27, versus $1.37 last year.

"In the third quarter of 2015, we continued to make meaningful progress on our strategic objectives for the year, notably execution on our asset sales initiatives, moving forward our significant pipeline of development projects, and making new strategic investments," said Ric Clark, Chairman of Brookfield Property Partners. "Our financial results for the quarter were bolstered partly by revenue coming online from the new leases at Brookfield Place in downtown Manhattan, which will have a larger impact on our FFO in the fourth quarter and to an even greater extent in 2016.

"One of Brookfield's great attributes is the bench strength and longevity of our senior executive team and broader workforce, especially as our business has undergone its rapid growth. The culture instilled in all of our employees is one of excellence, collaboration and commitment to creating value for unitholders," said Mr. Clark. "In that context, the Board today appointed me as Chairman and Brian Kingston as CEO. We will continue to partner in running Brookfield Property Partners and both look forward to advancing the many initiatives that we have in front of us over the next number of years."

For earnings history and earnings-related data on Brookfield Property Partners L.P. (BPY) click here.

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