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Stock Market & Financial Investment News

News Breaks
January 28, 2014
08:05 EDTBOXCBrookfield Canada Office Properties downgraded at BMO Capital
As noted earlier, BMO Capital downgraded Brookfield Canada Office Properties to Market Perform from Outperform. The firm downgraded the stock as it believes that the office leasing environment will shift from a landlordsí to a tenantsí market. Target $29.50.
News For BOXC From The Last 14 Days
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October 14, 2014
14:20 EDTBOXCBrookfield Canada buys east tower of Brookfield Place Calgary development
Brookfield Canada Office Properties (BOXC) announced that it has acquired the east tower of the Brookfield Place Calgary development in downtown Calgary. BOX purchased the property, upon which a 56-storey, 1.4 million-square-foot premier office tower is currently under construction, from parent company Brookfield Property Partners (BPY) based on a value of C$1.025B at stabilization. BPY is selling the asset to BOX on an "as-if-completed-and-stabilized basis" and will retain development obligations including construction, lease-up and financing. At closing, through available liquidity, BOX will pay to BPY C$235M, representing the amount invested and value created to date in the project. BOX will commit to fund an additional C$92M of equity and an additional C$575M funded from a first mortgage construction loan. Additionally, BOX will make a final payment to BPY of C$64M on stabilization for an aggregate total investment of C$966M.

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