TORONTO - Brookfield Properties Corp. (TSX:BPO) sold its 50 per cent stake in the TD Canada Trust Tower on Thursday to OMERS Realty Corp., the co-owner in the building, for $425 million or $721 per square foot.
The 51-story, 1.1-million-square-foot tower is one of the two office towers comprising the Brookfield Place office and retail complex in downtown Toronto. TD Canada Trust Tower opened in'90 and is currently 100 per cent leased.
Brookfield Properties holds an portfolio of interests in 108 properties totalling 74 million square feet in the downtown cores in Canada and the United States.
Shares in the company closed down $1.36 or nearly seven per cent to $18.34 on the Toronto Stock Exchange on Thursday.
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