Brookfield fund pays $460m for JP Morgan portfolio.Brookfield Asset Management  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Inc. announced that its Real Estate Opportunity Fund has acquired from affiliates of JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. & Co., a 5.3 million square foot portfolio of commercial properties across the U.S. for $460 million. The portfolio is comprised of 33 properties and banking centers located in 10 cities primarily in the Midwest, including the cities of Chicago, Phoenix, Dallas, Milwaukee and Baton Rouge Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. .
This geographically diverse portfolio includes recognized properties such as 300 South Riverside Plaza, in Chicago, a one million square foot office building under which BREOF earlier this year acquired the fee simple interest in the air rights; Chase Tower, the tallest building in Arizona and; Chase Tower, Milwaukee, a 450,000 s/f downtown property. As part of its continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the , JP Morgan Chase Bank, N.A. has signed long-term lease back agreements for significant portions of the space. "The acquisition of this unique portfolio represents the largest transaction for the Fund to date," said 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. , Brookfield Real Estate Opportunity Fund. "Our long term lease back agreement with JPMorgan Chase as our major tenant ensures a stable cash flow stream. In addition, we believe we are well positioned to create value by proactively asset managing the portfolio, repositioning underutilized space and maximizing revenue through lease ups and managing expenses," Brookfield Asset Management Inc. has over $50 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . |
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