Brookfield Prime Property Fund (deregistered)

Brookfield Prime Property Fund (Fund) was listed on the ASX until 3 July 2017.

A meeting of unitholders was convened on 14 June 2017 and unitholders approved the acquisition by Brookfield BPPF Investments Pty Limited as trustee for Brookfield BPPF Investments Trust (Brookfield) of all of the units in the Fund which were not already held by Brookfield and its associates.

Trading in the Fund’s securities on the ASX was suspended from close of trading 14 June 2017 and the Fund was de-listed on 3 July 2017 at 4:00pm.

The Notice of Meeting and Explanatory Memorandum can be viewed here.

Key Information (as at 30 June 2017)

Listing date:

De-Listing date
15 September 2006

3 July 2017 at 4:00pm
Funds under management (total assets): $762 million
Quarter end Cents per unit
September 2016 6.0
December 2016 6.0
March 2017 7.5
Total distribution and returns
of capital*

* for the year ended 30 June 2017

NTA per unit: $8.99
Portfolio weighted average lease expiry by ownership and income: 7.05 years
Value of direct property portfolio: $721.0 million
Assets (Internall valuations at 30 June 2017): 680 George Street and 50 Goulburn Street, Sydney

(50% interest valued at $373.0 million)

American Express House, 12 Shelley Street, Sydney

(100% interest valued at $188.0 million)

108 St Georges Terrace, Perth

(50% interest valued at $160.0 million)
Loan (total debt) to Value Ratio: 44%
Debt: As at 30 June 2017, the Fund’s $340 million senior bank debt facility was drawn to $315 million and the Fund’s $50 million subordinated debt facility with Brookfield remained undrawn.