Brookfield Office Properties Acquires Metropolitan Park East & West in Seattle for $210M
Brookfield Office Properties Inc. (NYSE: BPO) today announced that it has acquired two office towers, Metropolitan Park East & West, in the Seattle central business district for $210 million. Brookfield bought the 700,000-square-foot Class A office campus using available cash resources and an acquisition financing facility totaling $126 million.
"The Seattle market has demonstrated strong fundamentals with positive absorption over the past 18 months. The region is a leading tech and science center with a highly skilled work force. Metropolitan Park fits our strategy of owning premier assets in the best-located areas of the top urban markets and presents an opportunity to add diversification to our tenant base within the high-growth technology and social media sectors," said Dennis Friedrich, president and global chief investment officer of Brookfield Office Properties.
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