| Type | Public company |
|---|---|
| Traded as | NYSE: BPO TSX: BPO |
| Industry | Property management |
| Founded | 1923 |
| Headquarters | Brookfield Place Toronto, Ontario, Canada |
| Key people | Richard B. Clark, Chief Executive Officer |
| Revenue | US$1.326 billion (2010) |
| Net income | US$1.552 billion (2010) |
| Total assets | US$20.420 billion (2010) |
| Employees | 2,264 (2008)[1] |
| Website | brookfieldproperties.com |
Brookfield Office Properties Inc. (TSX: BPO, NYSE: BPO) is a North American commercial real estate company. Brookfield Asset Management owns fifty percent of its outstanding common shares. The company has its headquarters operations in New York City and Toronto. Its New York City head office is on the 11th floor of the Three World Financial Center in Lower Manhattan, New York City, while its Toronto head office is located downtown in the Brookfield Place office complex, which encompasses an entire 5.2 acre city block and offers over 2,600,000 square feet (240,000 m2) of office space[2]
The company owns, manages and develops office properties in the downtown core of the American cities of New York City, New York; Washington, D.C.; Boston, Massachusetts; Houston, Texas; Denver, Colorado; and Minneapolis, Minnesota; as well as the Canadian cities of Toronto, Calgary, Alberta; Ottawa, Ontario; and Vancouver, British Columbia. Its properties include One Liberty Plaza and the World Financial Center in New York City; Brookfield Place (formerly BCE Place), First Canadian Place, and Queen's Quay Terminal in Toronto; Place de Ville and the John Edmunds Towers in Ottawa, Canadian Western Bank Place and Enbridge Tower in Edmonton, Alberta; Suncor Energy Centre, Fifth Avenue Place, Altius Centre, Herald Building, and Bankers Hall in Calgary; and Royal Centre in Vancouver. It also operates real estate service businesses and has a land-development business primarily based in Canada.
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The company's roots go back to the 1900s in Montreal, Quebec. It was known then as the Canadian Arena Company. It operated the Montreal Arena. In a partnership with Toronto investors, it built the Arena Gardens in Toronto. In the 1920s, it built the Montreal Forum. From 1935, for several decades, the company owned the Montreal Canadiens National Hockey League club. In the 1970s, when the company was known as Carena Properties, it expanded its business into commercial real estate.[4] After the Montreal Forum closed, the Forum was sold to competitor Canderel Properties.
It lost out to Silverstein Properties, Inc. on the lease of the World Trade Center in New York City, a few months before the complex was destroyed during the September 11, 2001, attacks.
In 2006, the company acquired Trizec Properties.
On Earth Day (April 22) 2010, the company was listed as one of Canada's "The Green 30" Organizations Based On Eco-Friendly Programs and Practices [1] based on an employee poll.
The company is the owner of Zucotti Park, a publicly accessible park near Wall Street in the Manhattan borough of New York City, that in September 2011 became a site of protests by Occupy Wall Street. On October 11, 2011, Richard Clark, the company's chief executive officer, sent a letter to New York City Police Commissioner Raymond Kelly requesting to "clear the park" as its use by Occupy Wall Street "violates the law, violates the rules of the Park, deprives the community of its rights of quiet enjoyment to the Park, and creates health and public safety issues".[5] The request was later withdrawn.[6] On November 15, 2011, at around 1:00 a.m. the NYPD went in and cleared the park citing alleged health and safety hazards caused by the protestors. Later that morning, Judge Lucy Billings issued a court order for the NYPD to allow the protesters back into the park. That injunction was subsequently lifted by the NY Supreme Court and the Police were allowed to keep the park cleared of tents at the request of Brookfield Properties.
It wholly or partially owns the following companies: