Brookfield Acquires Maryland Assets - Analyst Blog
September 13 2011 - 10:58AM
Zacks
Brookfield Office Properties Inc. (BPO)
recently announced the acquisition of an office building namely,
Three Bethesda Metro Center in Bethesda, Maryland for $150.1
million from the Meridian Group. The building is currently 93.0%
leased and provides ample scope for further development.
Located at the intersection of Wisconsin Avenue and Old
Georgetown Road, the center is a 17-storied building spanning
368,400 square feet. The office building features full size atriums
with glass elevators and underground parking facility. The center
is ideally located at the Bethesda Row, and provides easy access to
all the amenities including shopping, nightlife, dining and other
entertainment amenities in that area.
Three Bethesda Metro Center in Bethesda is the company’s fourth
property in the Bethesda submarket. With this transaction;
Brookfield expects to further expand its presence in Maryland.
Based in New York, Brookfield is a publicly owned real estate
investment firm. The company owns, develops and manages premier
office properties in the United States, Canada and Australia. It
also provides ancillary real estate service businesses, such as
tenant service and amenities. The company mainly invests in high
growth and high-barrier-to-entry markets with primary focus on the
creation and sustainability of growing streams of cash flow.
Brookfield currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating. We are also maintaining our
long-term Neutral recommendation on the stock. One of its
competitors, Xinyuan Real Estate Co., Ltd. (XIN)
holds a Zacks #1 Rank, which translates into a short-term Strong
Buy rating.
BROOKFLD OFFICE (BPO): Free Stock Analysis Report
XINYUAN REAL ES (XIN): Free Stock Analysis Report
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