Brookfield Drops $109M On 31st DC-Area Property

Law360, New York (June 26, 2012, 1:20 PM EDT) -- Brookfield Office Properties Inc. has agreed to purchase a 10-story Class A office building in Washington's East End submarket for $109 million, expanding its presence in the D.C. metro area to 31 properties, the company said late Monday.

Funded by $71.5 million in property-level financing and available cash, the deal pushes Brookfield's ownership in the area past the 80-million-square-foot mark with a prime asset in a growing market.

“The East End submarket is thriving, with low office vacancy, new amenities coming online and an overall 24/7...
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