13:04:24 EDT Fri 19 Apr 2024
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or Name
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Brookfield Asset Management Inc
Symbol BAM
Shares Issued 11,982,568
Close 2017-09-12 C$ 23.95
Market Cap C$ 286,982,504
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Globe says Brookfield Asset unit readies Bishopsgate

2017-09-12 08:21 ET - In the News

The Globe and Mail reports in its Tuesday edition that construction is chugging along at 100 Bishopsgate, London, a 37-storey tower being developed in a joint venture that is 87.5 per cent owned by Brookfield Office Properties. In a Globe special, David Israelson writes that Brookfield's 11 office properties in Toronto include First Canadian Place. Although 100 Bishopsgate will not be the tallest building in the City, it will be the largest single building in the City. Conceived in 2006, construction on 100 Bishopsgate began in 2015 with Brookfield so confident that London's financial district would be strong that building began without the company securing any tenants. That was taken care of in November, 2015, when Royal Bank of Canada agreed to lease the first seven floors, followed a year later by law firms and banking groups, which all told will take care of about 70 per cent of the 900,000-square-foot building. Most of the rentals were negotiated before Britain's June 23, 2015, Brexit referendum. The long-term issue is whether this City building, when finished, and other ambitious projects nearby, will still be in the middle of one of the world's most important financial districts.

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