Brookfield Properties Inc. Office (BPO - report snapshot) is all set to acquire two office towers in Melbourne and Perth respectively, called the Southern Cross West Tower and the West Bank for a total of approximately $ 263 million.
The acquisition will be managed by Brookfield Prime Property Fund, the vehicle company owned 73% will be financed through a combination of available cash and debt.
Melbourne Brookfield portfolio is 99.7% leased, consisting mainly of four properties covering 2.5 million square feet. Southern Cross West is an office tower of 20 floors, totaling 495,000 meters square in the central business district of Melbourne.
While on the other hand, the West Bank Tower is a tower of 52 commercial floors totaling 423,000 meters square in the central business district of Perth. Brookfield portfolio is 100% leased Perth which mainly consists of two properties covering 1.4 million square feet.
With this transaction, Brookfield will be able to further enhance its portfolio established Melbourne and Perth and generate attractive returns for its investors. Moreover, the acquisition will enable the company to high quality assets in growing markets.
Headquartered in New York, Brookfield is a publicly owned real estate investment firm. The company owns, develops and manages office properties in the U.S. first, Canada and also provides auxiliary Australia.It real estate services companies, such as service tenants and services.
The company invests primarily in high growth and high barrier to entry markets with main focus on the creation and sustainability of the flows of cash flow growth.
Brookfield currently retains a Zacks # 3 Rank, which results in a retention rate in the short term. We are also maintaining our long-term neutral recommendation on action. One of its competitors, the site center Realty Corporation (COR - report snapshot), currently maintains a Zacks # 2 Rank, which results in a recommendation to buy short-term
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The acquisition will be managed by Brookfield Prime Property Fund, the vehicle company owned 73% will be financed through a combination of available cash and debt.
Melbourne Brookfield portfolio is 99.7% leased, consisting mainly of four properties covering 2.5 million square feet. Southern Cross West is an office tower of 20 floors, totaling 495,000 meters square in the central business district of Melbourne.
While on the other hand, the West Bank Tower is a tower of 52 commercial floors totaling 423,000 meters square in the central business district of Perth. Brookfield portfolio is 100% leased Perth which mainly consists of two properties covering 1.4 million square feet.
With this transaction, Brookfield will be able to further enhance its portfolio established Melbourne and Perth and generate attractive returns for its investors. Moreover, the acquisition will enable the company to high quality assets in growing markets.
Headquartered in New York, Brookfield is a publicly owned real estate investment firm. The company owns, develops and manages office properties in the U.S. first, Canada and also provides auxiliary Australia.It real estate services companies, such as service tenants and services.
The company invests primarily in high growth and high barrier to entry markets with main focus on the creation and sustainability of the flows of cash flow growth.
Brookfield currently retains a Zacks # 3 Rank, which results in a retention rate in the short term. We are also maintaining our long-term neutral recommendation on action. One of its competitors, the site center Realty Corporation (COR - report snapshot), currently maintains a Zacks # 2 Rank, which results in a recommendation to buy short-term
Read more here
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