Malls And CBDs Don't Work: So Brookfield Has Combined Them In Berlin [Forbes]
Brookfield Property Partners L.P. - 6.50% Class A Cumulative Redeemable Perpetual Preferred Units (BPYPP)
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Source: Forbes
And at the same time there have been growing concerns about how the work from home and hybrid work revolution has impacted CBDs and financial districts like Wall Street in New York and the Square Mile in London – areas which were previously defined by shiny office towers but which can now resemble ghost towns at certain times of day or days of the week. Anyone looking for a dual solution could do worse than check out what is happening at one of German capital Berlin's most famous, and previously unloved locations. U.S. investment giant Brookfield Property Partners – a powerhouse in the North American mall market – paid nearly $1.4 billion for the majority of Berlin's famous Potsdamer Platz in 2016. It's an area with a storied history, a thriving city heartbeat in the 1920s akin to Times Square, and later divided by the infamous Berlin Wall. After the Wall fell in 1989, the area, largely cleared on the Eastern side, was reinvented in a scheme driven by the head of Germany's car
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Sec Filings
- 11/14/24 - Form 6-K
- 11/8/24 - Form 6-K
- BPYPP's page on the SEC website