Brookfield Canada Office Properties closes going private transaction

On April 20, 2017, Brookfield Property Partners L.P. ("BPY") announced that it entered into a definitive agreement with Brookfield Canada Office Properties ("BOX") pursuant to which BPY will effectively acquire the approximately 17% equity interest in BOX that it or its subsidiaries did not own (approximately 15.9 million units) for C$32.50 cash per unit. BOX unitholders will be entitled to receive monthly distributions through to closing (pro-rated if required) at the current rate of C$0.1092 per unit as declared by the BOX Board of Trustees in the ordinary course. The transaction will provide a total consideration to minority unitholders of BOX of approximately C$515.7 million.

The transaction closed on June 30, 2017.

Brookfield Canada Office Properties is Canada's preeminent Real Estate Investment Trust (REIT). Its portfolio is comprised of 26 premier office properties totaling 20 million square feet in the downtown cores of Toronto, Calgary, and Ottawa, in addition to a development site in Calgary.

Brookfield Property Partners is one of the world's largest commercial real estate companies, with approximately C$65 billion in total assets.

Further information can be found on Brookfield Property Partners' website.