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Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners L.P., extended the conversion privilege on its Class AAA Preference Shares, Series R to September 23, 2026. Holders can convert their shares into Series S shares at a fixed rate of $0.4268125 per share per quarter for Series R and a floating rate based on three-month Canadian treasury bills plus 3.48% for Series S by the deadline. There are currently 9,946,218 Series R Shares outstanding, with an automatic conversion threshold set at fewer than one million shares remaining after September 30, 2026.
Written locally by qwen2.5:14b on 2026-09-18,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
On September 17, 2026, Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners L.P., announced an extension to the conversion privilege for its Class AAA Preference Shares, Series R (TSX: BPO.PR.R), allowing holders until September 23, 2026, to convert their shares into Series S shares on a one-for-one basis. If fewer than 1,000,000 Series R Shares remain outstanding after September 30, 2026, they will automatically convert into Series S Shares at that time. Additionally, if fewer than 1,000,000 Series S Shares are outstanding on the same date, no further conversions from Series R to Series S shares will be allowed. The fixed quarterly dividends for Series R Shares from October 1, 2026, to September 30, 2031, are set at an annual rate of 6.829% ($0.4268125 per share per quarter).
Written for “Brookfield Office Property Share Update” on 2026-09-18,
grounded in this article and the 0 other(s) covering the same event.
Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners L.P., today announced an extension to the conversion privilege on its Class AAA Preference Shares, Series R (“Series R Shares”) (TSX: BPO.PR.R) to September 23, 2026.
asserted
Inc. → announce → September
Holders of Series R Shares have the right, at their option, exercisable no later than 5:00 p.m. (Toronto time) on September 23, 2026, to convert all or part of their Series R Shares, on a one-for-one basis, into Class AAA Preference Shares, Series S (the “Series S Shares”), effective September 30, 2026.
asserted
Holders → have → Shares
As previously announced, if declared, the fixed quarterly dividends on the Series R Shares for the five years commencing October 1, 2026 and ending September 30, 2031 will be paid at an annual rate of 6.829000% ($0.4268125 per share per quarter).
asserted
dividends → announce → quarter
The quarterly floating rate dividends on the Series S Shares have an annual rate, calculated for each quarter, of 3.48% over the annual yield on three-month Government of Canada treasury bills.
asserted
dividends → float → bills
The actual quarterly dividend rate for the October 1, 2026 to December 31, 2026 dividend period for the Series S Shares will be 1.454360% (5.770000% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.363590 per share, payable on December 31, 2026.
asserted
dividend → declare → December
Holders of Series R Shares are not required to elect to convert all or any part of their Series R Shares into Series S Shares.
asserted
Holders → require → Shares
As provided in the share conditions of the Series R Shares, (i) if Brookfield determines that there would be fewer than 1,000,000 Series R Shares outstanding after September 30, 2026, all remaining Series R Shares will be automatically converted into Series S Shares on a one-for-one basis effective September 30, 2026; and (ii) if Brookfield determines that there would be fewer than 1,000,000 Series S Shares outstanding after September 30, 2026, no Series R Shares will be permitted to be converted into Series S Shares.
asserted
Shares → provide → Shares
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