Search
 

Brookfield Closes $216M Deal With Hines Unit

TORONTO-A subsidiary of Hines Real Estate Investment Trust Inc. pays US$179.75 per sf for the 1.2-million-sf Atrium on Bay office and retail complex in North Downtown Toronto.

By Alex Finkelstein | Updated on February 27, 2007

TORONTO-The biggest office-retail deal in Canada this year has closed with a subsidiary of Houston-based Hines Real Estate Investment Trust Inc. paying US$215.7 million or $179.75 per sf for the 1.2-million-sf Atrium on Bay office and retail complex in North Downtown Toronto.

New York-based Brookfield Properties Corp and its Canadian affiliate, BPO Properties Ltd., were the sellers of the 85%-leased property. The sale closed Feb. 26. GlobeSt.com reported the deal Jan. 10.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.