00:42:05 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 631,226,551
Close 2015-04-13 C$ 72.28
Market Cap C$ 45,625,055,106
Recent Sedar Documents

Globe says Brookfield unit enjoys buoyant NY market

2015-04-14 08:04 ET - In the News

The Globe and Mail reports in its Tuesday edition the Hudson Yards is the hugely ambitious development, estimated at $20-billion (U.S.), on New York's west side. The Globe's Guy Dixon writes hidden behind the surface is Canada's involvement and, in fact, continued love of Manhattan real estate. Oxford Properties Group Inc., the real estate arm of the Ontario Municipal Employees Retirement System pension fund, is partnered with the major U.S. real-estate company Related Companies as co-developers. Others such as Brookfield Properties, which already has a strong New York presence, and Tishman Speyers (which owns Rockefeller Center and the Chrysler Building) were interested, but had pulled out when offered a chance to participate in 2010. Then outlook seemed iffy for a project so massive, an engineering feat so large, along with other neighbouring developments, such as Brookfield's Manhattan West towers being built a short walk away. The entirely new district of office buildings, high-rise apartments and major stores, all being constructed on platforms above the Hudson Yards rail tracks, is the size of central Minneapolis. The development is just another sign of the resiliency of the New York market.

© 2024 Canjex Publishing Ltd. All rights reserved.