Brookfield and Cypress Communications Strategic Alliance.NEW YORK--(BUSINESS WIRE)--Dec. 2, 1999-- (NYSE NYSE See: New York Stock Exchange :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 ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BPO.) Brookfield Properties Brookfield Properties Corporation TSX: BPO NYSE: BPO is a Toronto-based North American commercial real estate company. Brookfield Asset Management owns 50% of its outstanding common shares. Corporation today announced that it has completed a strategic alliance with Cypress Communications, Inc. of Atlanta, Georgia to offer building centric telecommunication services to tenants of its owned and managed properties across North America. The services will include local and long distance voice services, high-speed, always-on Internet access, business television and other enhanced communications services. Toronto-based Brookfield invested $8.5 million in Cypress. Cypress will also launch a new company in Canada that will become the first major U.S. provider of building centric telecommunication services to establish operations in Canada. This Canadian operation will begin in the first quarter of 2000. Bruce Flatt, President & COO of Brookfield stated "In keeping with our commitment to outstanding service to our tenants, this is the first of many steps that Brookfield is undertaking to ensure that its properties are wired with state-of-the-art technologies and have the latest in communications infrastructure. We are preparing our properties to meet the communication capacity and service requirements of our tenants for the future." Cypress Communications, Inc. 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. Stanley Allan, added, "Cypress is pleased to partner with a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. company such as Brookfield with its portfolio of premier commercial properties. The opportunities for offering upgraded and enhanced communication services to its tenants will be substantial. We are certainly excited about attracting other property owners into our new Canadian operations." Brookfield Properties Corporation owns and manages a portfolio of premier North American office properties and also develops master-planned residential communities. Operations include: * 50 owned commercial properties containing 34 million square feet of rental area; * a property services business which manages over 100 million square feet; and * a land and housing business that sells over 5,000 residential building lots annually. Brookfield's objective is to build shareholder value by owning quality assets and managing each of its operations to increase cashflows. Brookfield is 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 Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BPO. Cypress Communications, Inc. is a building-centric integrated communications provider serving customers in office properties across the United States. Cypress currently offers its services to 30 million square feet of properties with contracts in place to increase that to over 100 million square feet by the end of 2000. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion