February 10, 2021

How Brookfield Asset Management’s Offer Undervalues Brookfield Property Partners

Download a pdf of the report. On January 4th, 2021, Brookfield Asset Management (BAM) announced a proposal to buy the remaining 40% of Brookfield Property Partners (BPY) it does not currently own. BAM is offering public investors $16.50 per BPY unit, or $5.9 billion in total value.[1] Both BPY and BAM have spent the last […]

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June 19, 2018

Lowe Enterprises Loses Major Client

In April 2018, the Pennsylvania State Employees Retirement System (PA SERS) announced that it was ending its almost quarter century with Lowe Enterprises Investors. PA SERS accounted for more than 70 percent of Lowe’s public pension fund assets under management, making it one of the firms most important clients. In recent years, Lowe not only […]

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March 14, 2018

Time’s Up for Hotel Figueroa head bartender whose company posted sexist ads

UNITE HERE Local 11 today demanded the newly-reopened Figueroa Hotel owned by GreenOak Real Estate cut ties with head bartender Dushan Zaric, who will oversee the hotel’s five bars.[i] In 2016, his liquor business the 86 Company perpetuated the stereotype that women are not fit for coveted bartending jobs by publishing a job posting seeking […]

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February 2, 2018

Time’s Up for Lowe Enterprises

Lowe Enterprises is a private real estate and hospitality management firm. Sandra Pezqueda worked as a dishwasher at Lowe Enterprises’s Terranea Resort. After she came forward to report sexual harassment, she was fired. Now, Time Magazine is celebrating Sandra as Person of the Year – one of the “Silence Breakers” who has spoken out about […]

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January 4, 2018

GreenOak and “private equity’s dirty finance secret”

In June, the Institutional Limited Partners Association (“ILPA”) issued a “Guidance for Limited Partners on Subscription Lines of Credit Used by Private Equity Funds” calling for increased disclosure and limitations of the practice, which can allow general partners to artificially inflate Internal Rate of Return (“IRR”) and collect additional carried interest payments, and potentially exposes limited […]

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November 29, 2017

Nevada political leaders call on private equity firm Brookfield Asset Management to protect jobs at the Hard Rock

Nevada elected officials are calling upon the owners of the Las Vegas Hard Rock Casino to guarantee that workers’ jobs will be protected during any ownership transition. The U.S. Representatives and Senator signed letters to the current private equity owner of the Hard Rock Casino, Toronto based Brookfield Asset Management. The letter noted it is […]

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November 8, 2017

Almanac/HRI dispute with Philadelphia community leaders escalates

On October 19, 2017, a dispute escalated at one of Almanac Realty Investors’ portfolio companies, leading to the arrest of a dozen clergy and hospitality workers.  They sat in the lobby of the Philadelphia aloft hotel, demanding that the aloft hotel return millions of state funding that should not have been provided to the project. […]

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October 25, 2017

UNITE HERE Local 11 urges SEC investigation of GreenOak Real Estate

GREEN OAK - Photo by Luke Andrew Scowen - Oak Tree in May CC BY-ND 2.0

UNITE HERE Local 11 wrote to SEC Chairman Jay Clayton requesting that the agency investigate issues regarding private equity real estate firm GreenOak Real Estate policies that allow the firm to offer preferred fee terms and investment opportunities to co-investors, including, potentially, related-party hedge fund Tetragon Financial Group.  As of December 31, 2016, Tetragon Financial […]

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October 24, 2017

Brookfield’s deteriorating labor relations cause for concern for investors

There are deteriorating labor relations at multiple Brookfield Asset Management owned properties. Brookfield owns five large union hotels across North America and we hope for good middle class standards at all locations. Labor disputes place undue risk on investors, who could face interrupted revenues, boycotts or picket lines, and headline or reputational risk. Positive engagement […]

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August 15, 2017

Are GreenOak investors paying placement agents’ travel expenses?

The business of placement agents, or firms acting as intermediaries between firms seeking to raise capital and potential investors, is one that has been marked by noteworthy scandals. Kentucky, New York, California, and other states conducted bribery investigations surrounding their use in high profile cases.[1] The SEC proposed banning their use, and New York, Illinois […]

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