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Mesa West Lends $18M on Brookfield’s Empty Building

ADDISON, TX-Brookfield obtains a $17.5 million loan from Mesa West Capital to finance the acquisition and lease up of Two Addison Circle.

By Jennifer Duell Popovec | Updated on November 23, 2010

ADDISON, TX-Brookfield Asset Management Inc. has obtained a $17.5 million loan from Mesa West Capital to finance the acquisition and lease up of Two Addison Circle, a 198,484-square-foot, vacant office building.

Toronto-based Brookfield acquired the class A building out of foreclosure from the lender for $16 million, or $81 per square foot, which represents a 50+% discount to replacement cost of $175 per square foot. Built in 2009, the six-story, brick and glass building features structured parking for 735 cars. It is LEED certified by the USGBC.

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