Brookfield Investments Corporation Announces Acquisition of Units of Brookfield Property Partners

Brookfield Investments Corporation (The Company) announced the acquisition of a 10.6% economic interest in Brookfield Property Partners L.P. (BPY), a newly created company to be spun-off from Brookfield Asset Management Inc. (Brookfield) on April 15, 2013. As consideration for the transaction, the Company sold its 11% common share interest in Brookfield Office Properties Inc., as well as the Company's portfolio of preferred shares of Brookfield Office Properties.

In addition, the Company's 36% limited partnership interest in Brookfield Europe LP sold its interest in Canary Wharf Group plc, as well as certain other European assets, to BPY and received as consideration an indirect 8.9% economic interest in BPY's business The Company will continue to hold a 36% limited partnership interest in Brookfield Europe.

The result of the two transactions is that, in the aggregate, the Company will now hold a 13.8% indirect interest in BPY's businesses. The Company will continue to hold an interest in Brookfield Office Properties, Canary Wharf Group and other global property assets through the Company's interest in BPY.

Upon its spin-off, BPY will be Brookfield's flagship publicly-traded commercial property company and the primary entity through which Brookfield will carry on its commercial property operations on a global basis. BPY's goal is to be the leading global investor in best in class commercial property assets. BPY owns substantially all of Brookfield's commercial property operations, including its office, retail, multi-family and industrial assets. BPY's portfolio includes interests in over 300 office and retail properties encompassing more than 250 million square feet. In addition, BPY has interests in approximately 15,600 multi-family units, 29 million square feet of industrial space and an 18 million square foot office development pipeline. BPY is expected to begin trading on the NYSE and the TSX on April 15, 2013, under the symbols "BPY" and "BPY.UN" respectively.

Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield group.

on April 12, 2013