Editor's Note: There is a photo associated with this Press
Release.
Brookfield Asset Management (NYSE:BAM) (TSX:BAM.A)
(Euronext:BAMA) announced today that Jay Cornforth has been hired
as global head of the company's industrial property business. Mr.
Cornforth will join the company's Brookfield Property Group unit as
a Managing Partner based in New York.
Mr. Cornforth comes to Brookfield after 10 years with Prologis
and AMB, where he was most recently President of the east region
responsible for development, acquisitions and property operations
of 85 million square feet of operating assets in Toronto, Boston,
New Jersey, Eastern Pennsylvania, Baltimore, Washington, Atlanta,
Central and South Florida.
"Brookfield has made a major commitment to the industrial sector
and we are excited to have Jay, an experienced, proven industry
veteran, join us to lead our growing industrial business," said Ric
Clark, Chief Executive Officer of the Brookfield Property
Group.
Brookfield owns high-quality distribution facilities around the
world. Upon the fourth quarter closing of leading industrial
property company IDI, Brookfield will be one of the largest global
owners of logistics facilities, with 62 million square feet and 79
million square feet of future development potential.
Earlier this year, Brookfield acquired Gazeley, a specialist
developer of large scale logistics warehouses and distribution
parks in key strategic locations across the UK, Western Europe and
China. In December 2012, Brookfield acquired Verde, an owner,
operator and developer of industrial distribution facilities in the
United States and Mexico.
Brookfield Asset Management Inc. is a global alternative asset
manager with over $175 billion in assets under management. The
company has over a 100-year history of owning and operating assets
with a focus on property, renewable power, infrastructure and
private equity. It has a range of public and private investment
products and services, which leverage its expertise and experience
and provide Brookfield with a competitive advantage in the markets
where it operates. Brookfield is co-listed on the New York and
Toronto stock exchanges under the symbol BAM and BAM.A,
respectively, and on NYSE Euronext under the symbol BAMA.
Brookfield Property Group is a commercial real estate owner,
operator and investor operating globally. The company's diversified
portfolio includes interests in over 300 office and retail
properties encompassing approximately 250 million square feet. In
addition, the company has interests in approximately 20,000
multi-family units, 35 million square feet of industrial space and
a 19 million square foot office development pipeline. The company's
goal is to be the leading global investor in best in class
commercial property assets.
For more information, please visit our website at
www.brookfield.com.
Forward-Looking Statements
This news release contains "forward-looking information" within
the meaning of Canadian provincial securities laws and applicable
regulations and "forward-looking statements" within the meaning of
"safe harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements that are predictive in nature, depend upon or refer to
future events or conditions, include statements regarding our
operations, business, financial condition, expected financial
results, performance, prospects, opportunities, priorities,
targets, goals, ongoing objectives, strategies and outlook, as well
as the outlook for North American and international economies for
the current fiscal year and subsequent periods, and include words
such as "expects", "anticipates", "plans", "believes", "estimates",
"seeks", "intends", "targets", "projects", "forecasts", "likely",
or negative versions thereof and other similar expressions, or
future or conditional verbs such as "may", "will", "should",
"would" and "could".
Although we believe that our anticipated future results,
performance or achievements expressed or implied by the
forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not
place undue reliance on forward-looking statements and information
because they involve known and unknown risks, uncertainties and
other factors, many of which are beyond our control, which may
cause our actual results, performance or achievements to differ
materially from anticipated future results, performance or
achievement expressed or implied by such forward-looking statements
and information.
Factors that could cause actual results to differ materially
from those contemplated or implied by forward-looking statements
include, but are not limited to: risks incidental to the ownership
and operation of real estate properties including local real estate
conditions; the impact or unanticipated impact of general economic,
political and market factors in the countries in which we do
business; the ability to enter into new leases or renew leases on
favourable terms; business competition; dependence on tenants'
financial condition; the use of debt to finance our business; the
behavior of financial markets, including fluctuations in interest
and foreign exchanges rates; uncertainties of real estate
development or redevelopment; global equity and capital markets and
the availability of equity and debt financing and refinancing
within these markets; risks relating to our insurance coverage; the
possible impact of international conflicts and other developments
including terrorist acts; potential environmental liabilities;
changes in tax laws and other tax related risks; dependence on
management personnel; illiquidity of investments; the ability to
complete and effectively integrate acquisitions into existing
operations and the ability to attain expected benefits therefrom;
operational and reputational risks; catastrophic events, such as
earthquakes and hurricanes; and other risks and factors detailed
from time to time in our documents filed with the securities
regulators in Canada and the United States.
We caution that the foregoing list of important factors that may
affect future results is not exhaustive. When relying on our
forward-looking statements or information, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. Except as required by law, we
undertake no obligation to publicly update or revise any
forward-looking statements or information, whether written or oral,
that may be as a result of new information, future events or
otherwise.
To view the photo associated with this press release, please
visit the following link:
http://www.marketwire.com/library/20130919-800bass.jpg
Contacts: Brookfield Property Group Melissa Coley VP, Investor
Relations and Communications (212)
417-7215melissa.coley@brookfield.com www.brookfield.com
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