Real estate companies with exposure to office buildings are struggling amid high vacancy rates and an uncertain future as many people continue to work from home.
If buying the beaten-up units of real estate investment trusts at the depths of despair sounds too risky, here’s another approach: Take a look at the preferred shares of Brookfield Property Partners, which can yield more than 10 per cent right now – signaling risk, but a compelling opportunity too.
Preferred shares are fixed-income securities that are issued at a par price, generally $25, and pay a set quarterly distribution in the case of fixed-rate shares.
Yes, they still reflect uncertainty in the office market. And full disclosure: I own a particular issue