(Source: Winnipeg Free Press)
Brookfield Properties Corp. (TSX:BPO) has sold interests in two office and commercial properties in the Washington, D.C., area for net proceeds of $103 million, the Toronto headquartered company said Wednesday.
In one deal, Brookfield said it had sold a 90 per cent interest in an office property in Washington, D.C., to a group of investors represented by Edge Fund Advisors for $203.4 million.
Brookfield retains a 10 per cent interest in the joint venture with Edge Fund, a D.C. real estate investment adviser and asset management firm, that was acting on behalf of HSBC Alternative Investments Ltd. and an exclusive syndicate of HSBC Private Banking Clients.
Read the full article “Brookfield gets $200M for 90 per cent of Washington, D.C. office property” in the Winnipeg Free Press (December 30, 2009).