Inactive Instrument

BROOKFLD PPTY LP UN

Equities

BPY

BMG162491077

J.C. Penney Plans to Sell Assets to Lenders After Talks with Other Bidders Stall

August 31, 2020 at 03:45 pm EDT

J. C. Penney Company, Inc. (OTCPK:JCPN.Q) has hit a stalemate in talks with bidders and is now proposing selling its assets to top lenders including H/2 Capital Partners LLC, giving them equity in exchange for their debt, the Wall Street Journal reported. "Our lenders are no longer going to be held hostage in negotiations," the company's lawyer Joshua Sussberg said during a hearing in U.S. Bankruptcy Court in Corpus Christi, Texas, the paper reported. The company is planning to negotiate the deal within the next 10 days. Penney was in talks with landlords Simon Property Group, Inc. (NYSE:SPG) and Brookfield Property Partners L.P. (NasdaqGS:BPY), but talks failed to produce a bid.

The company filed for bankruptcy protection in May, after the coronavirus pandemic shuttered stores and added to problems caused by years of strategic missteps.

Latest news about BROOKFLD PPTY LP UN

Express Receives Letter of Intent from Consortium Led by WHP Global for Sale of Business	Apr. 22	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Full Year Ended December 31, 2023	Mar. 01	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	Nov. 13	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-08-11	CI
Brookfield Property Partners L.P. acquired Multifamily asset in the United States for $157 million.	23-08-10	CI
An unknown buyer acquired an unknown stake in Three office assets in Canada for approximately CAD 400 million.	23-08-10	CI
Brookfield Property Partners L.P. Reports Earnings Results for the First Quarter Ended March 31, 2023	23-05-05	CI
Brookfield Property Partners L.P. acquired Five Logistics Assets In The United States for approximately $400 million.	23-05-04	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Full Year Ended December 31, 2022	23-02-24	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022	22-11-04	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022	22-08-05	CI
Brookfield Property Partners L.P. Reports Earnings Results for the First Quarter Ended March 31, 2022	22-05-06	CI
Brookfield Reportedly May Put Center Parcs UK on the Block	22-04-25	CI
Blackstone Inc. (NYSE:BX) and Starwood Capital Operations, LLC completed the acquisition of 111 WoodSpring Suites-branded hotels from Brookfield Property Partners L.P.	22-03-30	CI
New Fuddruckers Locations to Open At Brookfield Properties	22-03-14	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Full Year Ended December 31, 2021	22-02-25	CI
Brookfield Property Partners L.P. Announces First Amendment to the Third Amended and Restated Master Services Agreement with Brookfield Asset Management Inc	22-02-11	CI
Blackstone Inc. (NYSE:BX) and Starwood Capital Operations, LLC agreed to acquire 111 WoodSpring Suites-branded hotels from Brookfield Property Partners L.P. for $1.5 billion.	22-01-23	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021	21-11-10	CI
An unknown buyer acquired Two Retail Assets in United States from Brookfield Property Partners L.P. for approximately $39 million.	21-11-09	CI
Brookfield Property Partners L.P.'s Equity Buyback announced on September 11, 2020, has expired.	21-09-13	CI
Brookfield Property Partners L.P. Reports Earnings Results for the Second Quarter Ended June 30, 2021	21-08-06	CI
An unknown buyer acquired Four Retail Assets in the United States from Brookfield Property Partners L.P. for approximately $73 million.	21-08-05	CI
Brookfield Property Partners L.P.(TSX:BPY.UN) dropped from S&P/TSX 60 Index	21-07-27	CI
Brookfield Property Partners L.P.(TSX:BPY.UN) dropped from S&P/TSX Income Trust Index	21-07-27	CI

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Company Profile

Brookfield Property Partners L.P. owns and operates real estate. The Company's partnership is Brookfield Asset Management's primary vehicle to make investments across strategies in real estate. Its segments include Core Office, Core Retail and LP Investments. Core Office portfolio consists of interests in approximately 142 office properties totaling approximately 96 million square feet, which are located primarily in the commercial markets, such as New York, London, Los Angeles, Sydney, Toronto, and Berlin, as well as approximately 10 million square feet of active office and multifamily developments. Its Core Retail segment consists of approximately 124 retail properties located throughout the United States comprising approximately 121 million square feet of gross leasable area. LP Investments segment includes its investments in Brookfield-sponsored real estate funds. It has interests in various real estate sectors around the globe.

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