Brookfield sells Royal Centre tower in downtown Vancouver, nets $285 million

March 24, 2016 - 5:31 AM

TORONTO - Brookfield Canada Office Properties has sold the Royal Centre office tower in downtown Vancouver.

The real estate trust — part of the Toronto-based Brookfield Asset Management group (TSX:BAM.A) — says it received $285 million in net proceeds from the sale.

It didn't announce other details of the transaction.

Brookfield says the proceeds from the sale will be distributed to unitholders next month.

The distribution will be $1.60 per trust unit (TSX:BOX.UN), payable April 19 to holders of record as of April 5.

News from © The Canadian Press, 2016

More News ...

Top ten reasons to get our newsletter
Top Ten Reasons to get our newsletter 1. Find something new: You don’t need to read things twice. We try hard to find stories others don’t have. 2. Exclusive content: You’ll find stuff in the newsletter you won&rsquo

How a union at a Kamloops A&W beat the odds
After 18 months of effort, 20 workers at a Kamloops A&W have their first collective agreement. The workers are the first staff at a Canadian A&W restaurant to successfully unionize, acco

Thailand vows to tighten control on cannabis after smuggling cases involving tourists soar
BANGKOK (AP) — Thai officials on Wednesday said they planned to tighten regulations on cannabis sales after cases of tourists attempting to smuggle the drug out of the country soared in recent months. Thailand became the first country

Clearwater woman argues to get her dog back — but not her 10 cats
A North Thompson woman has managed to get her dog back after it was seized by the BC SPCA but not her 10 cats. According to an April 11 BC Farm Industry Review Board decision, Kristi Gerigk had two dogs and 10 cats seized in February when s

Popular penticton News

Kelowna landlord to pay $27,000 for wrongfully evicting tenants
A Kelowna landlord is on the hook for $27,000 after she failed to move into her rental property after she evicted the tenants. Tina and Scott MacLean were paying landlord Jane Li $2,200 a mo
May 24, 2025 6:00 AM
Penticton MLA kicked out of budget hearing at legislature has no regrets
Amelia Boultbee says she's slightly embarrassed about being kicked out of a hearing in the provincial legislature last week but makes no apologies for standing up to an NDP Minister who she cl
May 21, 2025 7:00 PM
RCMP block American citizen from planned Kamloops child abduction
RCMP in Kamloops say they stopped an American citizen's plan to abduct a 13-year-old in its tracks earlier this year. The operation helped prosecute the person in the U.S., as police pro
May 23, 2025 6:00 PM
Fraud accusations levied at former, current Shuswap chiefs in alleged logging conspiracy
A Shuswap First Nation is taking three men to court over alleged logging fraud that siphoned millions away from four Secwepemc communities. Skwlax te Secwepemculecw (Little Shuswap Indian Ba
May 21, 2025 6:00 PM
Merritt naturalist shares his wilderness passion while fighting for his life
BC naturalist and wildlife photographer Frank Ritcey has spent a lifetime exploring the wilderness and taking others with him on the trails to share is vast knowledge of the natural world. R
May 22, 2025 6:00 AM

Trending Now

TRENDING NOW: Don't forget to secure your pants

View Site in: Desktop | Mobile

Brookfield sells Royal Centre tower in downtown Vancouver, nets $285 million

Trending Now

Kamloops

Kelowna

Penticton

Vernon