Brookfield Properties Strengthens Focus On Premier Office Portfolio With Sale Of Retail Properties.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 11, 2001 Brookfield Properties Corporation, today announced the sale to institutional investors of Bramalea City Centre The Bramalea City Centre is an indoor shopping mall located in the city of Brampton, Ontario, Canada. With over a million square feet of retail space and more than 280 outlets, it is one of Canada's largest shopping malls. , a 1.2 million square foot regional shopping center complex located in Toronto. This transaction together with the recent sale of Seven Oaks and West Oaks Malls in Vancouver, generated approximately US$200 million in proceeds to Brookfield. David Arthur, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Brookfield's Canadian Operations stated that "this transaction substantially completes the Company's retail disposition plans. The total capital Brookfield has raised from property sales and long-term refinancings this year exceeds US$1 billion. This capital is being re-deployed in higher growth opportunities and in the repurchase of common equity interests." Brookfield Properties Corporation, with over US$8 billion in assets, owns, develops and manages premier North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. office properties. Brookfield also operates real estate service businesses and develops residential master-planned communities. The Brookfield portfolio spans 55 commercial properties and development sites totaling 45 million square feet. Brookfield is inter-listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Toronto Stock Exchanges under the symbol BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra . For more information, visit the Brookfield Properties website at www.brookfieldproperties.com. |
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