Deals
Brookfield Said to Buy BofA’s Stake in Ex-Merrill Headquarters
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Brookfield Office Properties Inc. agreed to buy Bank of America Corp.’s 49 percent stake in 4 World Financial Center in lower Manhattan, the former headquarters of Merrill Lynch & Co., according to a person with knowledge of transaction.
Brookfield will pay $225 million to $250 million for the bank’s interest in the 34-story tower, said the person, who asked not to be identified because the deal hasn’t been completed. The New York-based real estate company controls the complex, which has 8 million square feet (743,000 square meters) of office and retail space.