The Right Time for REITs?

The June 5 acquisition of Trizec Properties demonstrates that private investors still see upside potential in office-building rents

Are office buildings still a bargain, even after a big market gain? Some big investors seem to think so. On June 5, New York-based Brookfield Properties (BPO) and New York buyout firm Blackstone Group teamed up to buy Chicago-based Trizec Properties (TRZ), one of the nation's biggest office-building real estate investment trusts (REIT), and its sister company Trizec Canada. The purchase price was $8.9 billion, including acquired debt.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.