TORONTO, November 19, 2001 ? Brookfield Properties and The Canapen Group
of Companies today announced that
they have signed a long term lease for approximately 200,000 square
feet at Hudson's Bay Centre in Toronto with a major
international company.
Brookfield and Canapen own the 960,000 square foot, mixed-use Hudson's
Bay Centre and together are redeveloping
the office and retail component of the project. The 534,000 square
foot office tower is undergoing a complete retrofit with
new windows, elevators, mechanical, electrical and life safety systems.
The project will be completed in June 2002. This
major deal represents almost 40% of building.
"We are very pleased to have completed this significant lease at the
Hudson's Bay Centre," said David Arthur, President
and CEO of BPO Properties Ltd. "It underscores the status of the building
as a premier location for demanding and
sophisticated users of office space."
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Brookfield Properties Corporation, with over US$8 billion in assets,
owns, develops and manages premier North American
office properties. The Brookfield portfolio spans 55 commercial properties
and development sites totaling 45 million square
feet. Brookfield also operates real estate service businesses and develops
master planned residential communities. For
more information, visit the Brookfield Properties website at www.brookfieldproperties.com.
Contact:
Katherine C. Vyse
SVP, Investor Relations and Communications
Summary
Brookfield Properties Corporation
Tel: (416) 369-8246
Fax: (416) 865-1288
Email: kvyse@brookfieldproperties.com
David D. Arthur
President and Chief Executive Officer
BPO Properties Ltd.
Tel: (416) 359-8537
Fax: (416) 359-9813