The Right Time for REITs?
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.
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