Brookfield Property REIT Inc.

Delisted

CIK 0001496048AcceleratedReal Estate Investment TrustsDelawareFY ends Dec 31

Period

FY 2020

Revenue

$1.53B

Net Income

$-711.46M

Total Assets

$21.88B

Equity

$1.84B

Shares Out

Op. Cash Flow

$-8.43M

Business

Brookfield Property REIT Inc. is a former operating company in Real Estate Investment Trusts, incorporated in Delaware. Securities are no longer actively traded on a major U.S. exchange.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Rental revenues, net	1,356	1,338	1,868	2,134	1,450
Management fees and other corporate revenues	125	167	126	105	96
Other	49	60	70	89	90
Total revenues	1,530	1,564	2,064	2,328	2,346
Real estate taxes	193	171	221	237	230
Property maintenance costs	32	32	42	50	55
Marketing	7	6	8	11	13
Other property operating costs	186	179	253	286	283
Provision for doubtful accounts	0	0	12	11	8
Property management and other costs	231	229	173	145	139
General and administrative	24	22	46	56	56
Costs related to the BPY Transaction	0	9	203	—	—
Provision for impairment	134	223	46	0	73
Depreciation and amortization	642	502	633	693	661
Total operating expenses	1,447	1,374	1,636	1,490	1,546
Interest and dividend income	8	26	34	62	60
Interest expense	−694	−678	−577	−542	−571
(Loss) gain from changes in control of investment properties and other, net	−15	721	3,097	79	723
Gain (loss) on extinguishment of debt	14	−28	14	55	0
(Loss) income before income taxes, equity in (loss) income of Unconsolidated Real Estate Affiliates and related gain on investment, and allocation to noncontrolling interests	−605	231	2,996	491	1,026
Benefit from (provision for) income taxes	35	−10	594	11	−901,000
Equity in (loss) income of Unconsolidated Real Estate Affiliates	−181	20	87	153	232
Equity Method Investment, Realized Gain (Loss) on Disposal	−52	240	487	12	52
Net (loss) income	−802	481	4,164	667	1,308
Allocation to noncontrolling interests	90	−48	−73	−10	−20
Net (loss) income attributable to Brookfield Property REIT Inc.	−711	433	4,091	657	1,288
Basic & Diluted Earnings Per Share (in dollars per share)	1.33	1.32	0.63	0	0
Basic (in dollars per share)	—	—	4.16	0.72	1.44
Diluted (in dollars per share)	—	—	4.15	0.68	1.34
Foreign currency translation	−15	−3	−11	−2	14
Net unrealized gain (loss) on other financial instruments	37,000	−141,000	16,000	12,000	5,000
Other comprehensive loss	−15	−3	−11	−2	2
Comprehensive (loss) income	−817	478	4,153	665	1,311
Comprehensive loss (income) allocated to noncontrolling interests	92	−48	−73	−9	−20
Comprehensive (loss) income attributable to Brookfield Property REIT Inc.	−725	430	4,080	656	1,291

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Land	3,621	3,660	2,707	4,014	3,066
Buildings and equipment	13,969	14,021	10,774	16,958	16,092
Less accumulated depreciation	−2,968	−2,570	−2,215	−3,188	−2,737
Construction in progress	257	160	577	473	252
Net property and equipment	14,878	15,271	11,843	18,256	16,672
Investment in Unconsolidated Real Estate Affiliates	4,343	4,634	—	—	—
Net investment in real estate	19,221	19,905	17,228	21,633	20,541
Cash and cash equivalents	205	198	247	165	475
Accounts receivable, net	525	235	223	334	322
Notes receivable	46	76	257	418	678
Deferred expenses, net	159	189	146	285	210
Prepaid expenses and other assets	828	745	314	495	507
Deferred tax assets, net	655	626	—	—	—
Total assets	21,880	21,973	19,034	23,348	22,733
Mortgages, notes and loans payable	16,115	15,903	12,590	12,832	12,430
Investment in Unconsolidated Real Estate Affiliates	151	126	125	21	40
Accounts payable and accrued expenses	994	1,027	953	919	655
Dividend payable	903,000	21,000	5	220	434
Liabilities held for disposition	206	206	206	206	206
Liabilities held for disposition	263	0	—	—	0
Total liabilities	17,730	17,262	13,879	14,199	13,769
Redeemable equity interests	839	1,354	2,306	0	144
Redeemable noncontrolling interests	61	62	74	248	119
Total redeemable interests	900	1,416	2,380	248	263
Commitments and Contingencies (Note 18)	0	0	0	0	0
Class B Stock	5	5	5	—	—
Class C Stock	6	6	6	—	—
Preferred Stock: 500,000,000 shares authorized, $.01 par value, 10,000,000 shares issued and outstanding as of December 31, 2020 and December 31, 2019	242	242	242	242	242
Additional paid-in capital	7,363	6,671	5,773	11,846	11,418
Accumulated deficit	−5,674	−5,076	−4,721	−2,107	−1,825
Accumulated other comprehensive loss	−99	−85	−83	−72	−70
Total stockholders' equity	1,843	1,762	1,222	8,796	8,636
Noncontrolling interests in Consolidated Real Estate Affiliates	13	26	27	55	34
Noncontrolling interests of the Operating Partnership	1,394	1,507	1,527	49	31
Total equity	3,250	3,295	2,775	8,900	8,701
Total liabilities, redeemable interests and equity	21,880	21,973	19,034	23,348	22,733

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Equity in loss (income) of Unconsolidated Real Estate Affiliates	181	−20	−87	−153	−232
Distributions received from Unconsolidated Real Estate Affiliates	30	127	117	238	121
Provision for doubtful accounts	62	11	12	11	8
Depreciation and amortization	642	502	633	693	661
Amortization/write-off of deferred finance costs	35	29	19	12	12
Accretion/write-off of debt market rate adjustments	−2	−2	−2	−4	−5
Amortization of intangibles other than in-place leases	−9	−16	16	28	41
Operating Lease, right of use amortization	10	5	0	0	—
Straight-line rent amortization	−42	−8	2	−2	−12
Deferred income taxes	−29	−7	−601	−16	15
Loss (gain) on extinguishment of debt	−14	28	−14	−55	5
Provisions for impairment	134	223	46	0	73
Accounts and notes receivable, net	−310	35	−41	−6	−37
Prepaid expenses and other assets	−38	5	−35	−40	−4
Deferred expenses, net	−3	−15	−45	−37	−28
Accounts payable and accrued expenses	85	1	−59	14	−28
Other, net	−4	10	42	40	34
Net cash (used in) provided by operating activities	−8	428	585	1,295	1,136
Acquisition of real estate and property additions	0	−877	−64	−231	−578
Development of real estate and property improvements	−273	−514	−674	−663	−547
US Government Securities, at Carrying Value	0	−169	0	0	—
Distributions received from Unconsolidated Real Estate Affiliates in excess of income	73	363	411	167	83
Loans to joint venture and joint venture partners	−2	−96	−12	−121	−60
Due to Affiliate	0	−330	0	0	—
Proceeds from repayment of loans from affiliates	0	330	0	—	—
Proceeds from repayment of loans to joint venture and joint venture partners	2	18	205	—	—
Proceeds from sales of investment properties and Unconsolidated Real Estate Affiliates	88	185	3,050	62	1,699
Contributions to Unconsolidated Real Estate Affiliates	−141	−239	−218	−120	−136
Net cash (used in) provided by investing activities	−253	−1,329	2,697	−855	521
Proceeds from refinancing/issuance of mortgages, notes and loans payable	906	6,420	7,032	1,595	908
Principal payments on mortgages, notes and loans payable	−822	−4,527	−1,775	−1,580	−1,743
Payment of deferred finance costs	−9	−42	−113	−3	−14
Series K preferred unit redemptions	−29	−15	0	0	—
Stock Issuance Costs	0	0	−7	0	0
Cash contributions from noncontrolling interests in consolidated real estate affiliates	32	0	1,472	15	0
Cash distributions paid to stockholders	−68	−790	−9,873	−1,020	−681
Cash distributions to noncontrolling interests in consolidated real estate affiliates	0	−99	−15	−6	−24
Cash distributions reinvested (DRIP) in common stock	0	0	357,000	1	889,000
Cash distributions paid to preferred stockholders	−16	−16	−20	−16	−16
Cash distributions and redemptions paid to holders of common units	−4	−7	−107	−18	−6
Other, net	0	0	−10	16	44
Net cash provided by (used in) financing activities	354	878	−3,215	−738	−1,564
Net change in cash, cash equivalents and restricted cash	93	−23	67	−300	—

Filings

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Frequently asked questions

What is Brookfield Property REIT Inc.'s CIK number?

Brookfield Property REIT Inc.'s SEC CIK number is 0001496048 (1496048). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Brookfield Property REIT Inc.'s SEC filings?

All of Brookfield Property REIT Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

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