Brookfield Office Properties completes preferred share issue

On April 27, 2016, Brookfield Office Properties Inc. (Brookfield Office Properties), a subsidiary of Brookfield Property Partners, completed its previously announced offering of 8,000,000 Preferred Shares, Series CC (which included 2,000,000 shares sold as a result of the exercise in full of an underwriters' option), at C$25.00 per share, in the amount C$200 million. The Preferred Shares, Series CC will yield 6.00% annually for the initial period ending June 30, 2021.

The offering was underwritten by a syndicate of underwriters led by TD Securities Inc., CIBC Capital Markets, RBC Capital Markets and Scotiabank.

Net proceeds from the issue will be added to the general funds of Brookfield Office Properties and be used for general corporate purposes, including, but not limited to, redemption of existing preferred shares, repayment of revolving debt, acquisitions, capital expenditures and working capital needs.

Brookfield Office Properties is a subsidiary of Brookfield Property Partners, a global commercial property company that owns, operates and invests in best-in-class office, retail, multifamily, industrial, hotel and triple net lease assets.

Further information can be found on Brookfield Office Properties' website.