Bankers Hall, a 2.6-million twin-tower complex in Calgary, Alberta was purchased by Brookfield last year. At the time, the mixed-use property was roughly one-third vacant. Now, with the property leased up and greatly improved, Brookfield has decided to cash in on its investment.

"When we acquired Bankers Hall it had approximately 450,000 sf of vacant space in it," Brookfield CFO Steve Douglas tells GlobeSt.com. "We subsequently leased up virtually all of that space. We've increased the cash flows of the building and increased the value of the building."

Douglas says the refinancing will accomplish two goals for Brookfield. First, the company will pay down its construction debt on the property. "Second, we can harvest some of the value that has been created by that leasing initiative," Douglas says. "We'll pay down debt and when appropriate acquisitions present themselves we'll be in a position to take advantage of them." Bankers Hall comprises twin 50-story office towers sitting above a 7-story office/retail base that integrates the historic Hollinsworth Building and the adjacent 24-story Royal Bank Building.