Brookfield Place
Toronto-based Brookfield Properties has set up a $1 billion fund to provide financing for companies undergoing restructuring. This fund will provide financing for companies requiring at least $20 million operate while they seek protection from creditors.
The largest investor in this fund is the Canadian government that will initially invest $450 million which could increase to $1 billion according to Brookfield.
Others investing in this fund:
- Brookfield will provide 10 per cent of capital
- The Canadian Imperial Bank of Commerce
- Sun Life Financial
Brookfield’s real estate unit Brookfield Properties Corp., operates the First Canadian Place in Toronto and the World Financial Center in New York.
We seem to focus on residential Toronto Real Estate with the average resale prices or the new Condo sales on a month to month or year over year basis but the Toronto Commercial Real Estate doesn’t seem to make the front pages.
Toronto’s downtown core has many companies involved in Real Estate, in fact many of them own their office buildings, giving them a close-up of going rents and square foot sales.
This is just one of those Toronto companies with $80 billion in assets, we should have put up a Toronto downtown image…
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