Some interesting info on recent transfer of ownership
Quote:
TORONTO, ON--(Marketwired - Oct 14, 2014) - Brookfield Canada Office Properties (TSX: BOX.UN) (NYSE: BOXC) announced today that it has acquired the east tower of the Brookfield Place Calgary development in downtown Calgary. BOX purchased the property, upon which a 56-storey, 1.4 million-square-foot premier office tower is currently under construction, from parent company Brookfield Property Partners L.P. (TSX: BPY.UN) (NYSE: BPY) based on a value of C$1.025 billion at stabilization (C$966 million net of an imputed return on BOX's equity investment). BPY is selling the asset to BOX on an "as-if-completed-and-stabilized basis" and will retain development obligations including construction, lease-up and financing.
At closing, through available liquidity, BOX will pay to BPY C$235 million, representing the amount invested and value created to date in the project...
...71% pre-leased to anchor tenant Cenovus and is on target to be completed in late 2017...
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and a good description of the public space, amenities, etc
Quote:
The east tower forms part of the full-block development, which includes plans for an additional office tower totaling approximately one million square feet, a 60-foot-high transparent glass pavilion, restaurants, retail shops and amenities at street level, and underground parking accommodating 1,100 parking stalls. A half-acre lit public plaza will traverse the site and will feature restaurants and cafés, public art displays, cultural activities and programmed activity provided by Brookfield's award-winning Arts & Events program.
The development will be constructed to a high standard of sustainability and is expected to achieve the LEED Gold standard for Core & Shell development. Commuters will have direct access to the plus-15 skywalk system and the Calgary LRT on 7th Ave. The property will house an innovative bicycle parking facility accessible by dedicated bike ramps separate from vehicular traffic and electric car plug-in recharge stations.
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Source: Brookfield Canada Office Properties, "Brookfield Canada Office Properties Acquires Brookfield Place Calgary East Tower Development", October 14 2014.
Full article:
http://www.marketwired.com/press-rel...un-1957440.htm
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