Brookfield Properties sells two properties for net proceeds of $182M

theflyonthewall.com

Brookfield Office Properties (BPO) announced the sale of two assets: the 33 South 6th Street / City Center property in Minneapolis and the KBR Tower office building in Houston, in which Brookfield sold its 50% interest along with joint venture partner KBR (KBR). Brookfield sold the 33 South 6th Street / Minneapolis City Center property in Minneapolis to Shorenstein Properties LLC for $205.5M. Net proceeds to Brookfield were approximately $106M. Brookfield, along with joint venture partner KBR, sold the KBR Tower office building and adjacent garage in Houston to Corporate Property Associates 17-Global, a public non-traded REIT affiliate of W. P. Carey (WPC), for $174.6M. Net proceeds to Brookfield were approximately $76M.

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