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Brookfield Properties Sells TD Canada Trust Tower

2008-07-24 17:21:00

Brookfield Properties Sells TD Canada Trust Tower

Highest Price Per Square Foot in Canadian History

TORONTO–(EMWNews)–Brookfield Properties Corporation (BPO: NYSE, TSX) today announced that

it has closed on the sale of its 50% interest in the TD Canada Trust

Tower to OMERS Realty Corporation, the co-owner in the building, for

gross proceeds of C$425 million or C$721 per square foot.

The 51-story, 1.1-million-square-foot tower is one of the two office

towers comprising the 2.6-million-square-foot Brookfield Place office

and retail complex in Torontos financial


TD Canada Trust Tower opened in 1990 and is currently 100% leased.

Brookfield Properties Profile

One of North America’s largest commercial real estate companies,

Brookfield Properties Corporation owns, develops and manages premier

office properties. The office portfolio is comprised of interests in 108

properties totaling 74 million square feet in the downtown cores of New

York, Boston, Washington, D.C., Los Angeles, Houston, Toronto, Calgary

and Ottawa. Landmark assets include the World Financial Center in

Manhattan, Brookfield Place in Toronto, Bank of America Plaza in Los

Angeles and Bankers Hall in Calgary. The corporation also holds

interests in 17 million square feet of high-quality, centrally located

development and redevelopment properties in its major markets. The

corporations common shares trade on the NYSE

and TSX under the symbol BPO. For more information, visit

Brookfield Properties Corporation
Melissa Coley, 212-4177215

President, Investor Relations and Communications
[email protected]

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