Brookfield Property Partners LP (BPY) Q4 2019 Earnings Call Transcript

Brookfield Property Partners LP (BPY) Q4 2019 Earnings Call Transcript

Brookfield Property Partners LP ( NASDAQ:BPY ) Q4 2019 Earnings Call Feb 5, 2020 , 11:00 a.m. ET. It is now my pleasure to turn the call over to Mr. Matt Cherry, Senior Vice President of Investor Relations.. With that, I'll turn the call over to Chief Executive Officer, Brian Kingston.. For the full year of 2019 cash flow from operations and realized gains was $1.5 billion or $1.57 per unit, and that compares to $1.6 billion or $1.97 per unit in 2018.. Consistent with prior years, we completed $3.3 billion of asset sales at prices that were 6% higher than our IFRS carrying values, generating net proceeds of $1.8 billion to BPY, which were redeployed into our business last year at much higher returns.. Over the next several years as we continue to monetize investments in our real estate opportunity funds as well as mature stable assets on our balance sheet, we expect to generate between $1.5 billion and $2 billion of net proceeds each year, which can then be reinvested into our business.. We achieved same-store growth of 3% in this business and occupancy finished the year at 93%, up 90 basis points over last year.. In our