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 Toronto’s financial
district.
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
corporation’s common shares trade on the NYSE
and TSX under the symbol BPO. For more information, visit www.brookfieldproperties.com.
Brookfield Properties Corporation President, Investor Relations and Communications |
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