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Brookfield Looks To Integrate North American Office Operations

First Canadian Place in Toronto
Photo credit: Ryan Starr | BisnowFirst Canadian Place

Brookfield Property Partners is proposing to acquire the remaining 16.9% equity stake in Brookfield Canada Office Properties — which owns Toronto's Brookfield Place and First Canadian Place, above — for $30.10 cash per unit, a 14.8% premium on the real estate trust’s Friday closing price. Brookfield Property Group CEO Brian Kingston said the acquisition of its remaining interest in BOX will enable his firm to fully integrate its North American office operations and simplify its structure. Brookfield Property Partners, the real estate arm of Brookfield Asset Management, has 149 office properties and 126 retail malls in its portfolio.

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