SOURCE: Brookfield Canada Office Properties

Brookfield Canada Office Properties

March 24, 2016 06:50 ET

Brookfield Canada Office Properties Closes on Sale of Royal Centre and Announces Special Distribution

TORONTO, ON--(Marketwired - Mar 24, 2016) - Brookfield Canada Office Properties (TSX: BOX.UN) (NYSE: BOXC) announced today that it has closed on the sale of its 100% interest in Royal Centre in Vancouver generating net proceeds of C$285 million.

Furthermore, the Board of Trustees of Brookfield Canada Office Properties announced a special distribution from the proceeds of the sale of C$1.60 per trust unit payable on April 19, 2016 to holders of Trust units of record at the close of business on April 5, 2016.

The distributions are declared in Canadian dollars. Registered unitholders resident in Canada will receive payment in Canadian dollars and registered unitholders resident in the United States will receive the U.S. dollar equivalent unless they request otherwise. The U.S. dollar equivalent of the distribution will be based on the Bank of Canada noon exchange rate on the record date or, if the record date falls on a weekend or holiday, on the Bank of Canada noon exchange rate of the preceding business day. Beneficial unitholders will receive payment in Canadian dollars unless they request to receive the U.S. dollar equivalent.

About Brookfield Canada Office Properties
Brookfield Canada Office Properties is Canada's preeminent Real Estate Investment Trust (REIT). Our portfolio is comprised of 26 premier office properties totaling 20 million square feet in the downtown cores of Toronto, Calgary and Ottawa, in addition to a development site in Calgary. Our landmark assets include Brookfield Place and First Canadian Place in Toronto, and Bankers Hall in Calgary. Further information is available at www.brookfieldcanadareit.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.

Brookfield Canada Office Properties is the flagship Canadian REIT of Brookfield Asset Management, a leading global alternative asset manager with approximately $225 billion in assets under management. For more information, go to www.brookfield.com.

Contact Information

  • Contact:
    Sherif El-Azzazi
    Manager, Investor Relations & Communications
    Tel: (416) 359-8593
    Email: Email Contact