Brookfield Canada Office Properties investing $966M in Calgary officer tower

TORONTO – Brookfield Canada Office Properties (TSX:BOX.UN) says it will invest $966 million to acquire and complete construction of a 56-storey office tower that is part of the Brookfield Place Calgary development.

The company says it will acquire the east tower in the project from corporate parent Brookfield Property Partners L.P. (TSX:BPY.UN).

The building is 71 per cent pre-leased to anchor tenant Cenovus (TSX:CVE) and expected to be complete in late 2017.

Brookfield Place Calgary is a full-block development site in the heart of Calgary’s downtown.

Brookfield Canada Office Properties has interests in 28 office properties in the downtown cores of Toronto, Calgary, Ottawa and Vancouver as well as a 980,000-square-foot office tower under development in Toronto.