No. of Recommendations: 6
https://www.ft.com/content/7e0c3f90-872c-4f7b-941b...Subscription required. Very good article.
Some snippets:
"When we asked Flatt about the apparent discrepancy this week, he said: 'We have a transitional portfolio which are new developments and non-core assets, we have stuff like that, but if you take our premium core portfolio, which is two-thirds of real estate, occupancy is 96 per cent.'
"S&P also said that 'BPY has one of the weakest financial risk profiles within our North America real estate coverage given elevated leverage and thin interest coverage.'
Astore