HAMILTON, BERMUDA—Brookfield Property Partners and Qatar Investment Authority have forged an alliance whereby the QIA will pay $1.8 billion for a stake in BPY and the two organizations will form a 50/50 joint venture to bid on London’s Canary Wharf complex. QIA will own approximately 9% of BPY following the company’s issue of exchangeable preferred equity securities to the sovereign wealth fund.

“The placement of $1.8 billion of equity is a great endorsement of our global premier asset strategy,” says BPY CEO Ric Clark. “We are on the path to building the world’s leading portfolio of best-in-class property assets. This capital will enable us to launch BPY to the next phase.”

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