Big Real Estate
Our Jotham Sederstrom caught up with Ric Clark, president of downtown Manhattan’s biggest office landlord, Brookfield, just as news of major moves at the firm trickled out. Chiefly, CB Richard Ellis exec Mitch Rudin would leave that firm after more than two decades to head Brookfield’s U.S. operations.
Why’d Mr. Rudin do it? According to Read More
Nomura, the most-watched tenant on the market right now, is close to finally signing a 700,000-square-foot deal at George Comfort & Sons’ Worldwide Plaza, numerous sources told The Observer.
In almost any other scenario, we would assume that if five top brokers have all heard such news it must be true, but with so many Read More
Big Real Estate
Poor Tishman Speyer. First Stuy Town. Then its Chicago portfolio. And now this.
Brookfield Properties, led by the hunky Ric Clark, is trying to foreclose on a portfolio of 20 buildings owned by Tishman Speyer in Washington, D.C, according to The Wall Street Journal.
The Journal‘s Lingling Wei writes:
Brookfield Properties Corp. Read More
The race to sell off a portion of the Freedom Tower-officially, One World Trade Center-has kicked into a new gear.
The Port Authority, the New York-New Jersey-controlled bureaucracy that is developing the tower and shopping around an ownership stake, late last month dropped two developers vying to take a piece of the 1,776-foot tower, according Read More
The Commercial Observer: What’s happening at Brookfield?
Mr. Clark: We’ve just gone through a period of working to both preserve and enhance our liquidity. We’ve been working through some refinancing, and we did a very large equity raise of over a billion dollars. We did a $200 million preferred shared issue. We Read More
“Operating in this economy is sort of like a game of dodgeball.”
So said Brookfield Properties CEO Ric Clark during his firm’s second-quarter investor call on Wednesday morning. Brookfield Properties owns and manages 75 million square feet of office towers in Canada and New York, including the Grace Building at 1114 Avenue of the Americas Read More
Brookfield Properties, which, along with its holdings in Canada and across the States, owns the World Financial Center downtown and is developing two sleek skyscrapers on Ninth Avenue, held its third quarter earnings conference call this morning.
While there was plenty of talk about the impact of Hurricane Ike on its Southwestern holdings and Read More
Revised bids for the West Side rail yards were due today, and Brookfield Properties did not submit a response, leaving four of the city’s biggest developers in a battle for control of the 26-acre site west of Pennsylvania Station.
The Metropolitan Transportation Authority, which owns the site, put out a statement a few Read More
Brookfield Properties seems to like the architectural veterans over at Skidmore Owings and Merrill these days. Brookfield brought on the longtime firm to design its two signature towers in its bid for the West Side rail yards, and now the mega-office landlord has released an SOM-designed rendering for two office towers on Read More
Brookfield Properties seems to be moving along with a renewal with Merrill Lynch at the World Financial Center, which, at least as of last month was likely to mean a five-year lease. On a conference call with investors today, a Brookfield executive said the company was in “active and productive discussions with Merrill,” though Read More