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Brookfield bumps up Q3 profits

The Place de Ville podium on Queen Street, facing west. (Google Street View image)

Published on October 23, 2012; Published on October 22, 2012
The Canadian Press ~ OBJ

Brookfield Canada Office Properties (TSX:BOX.UN) said Monday it earned $75.1 million in its latest quarter, up from $50.7 million a year ago.

Topics :: Brookfield Canada Office Properties , Toronto Stock Exchange , Toronto , Calgary , Ottawa

The real estate trust said the profit amounted to 81 cents per unit for the quarter ended Sept. 30, up from 55 cents per unit during the same period in 2011.

Revenue grew to $128.1 million from $109 million.

Helping boost the results was a fair value gain of $39.6 million, compared with $20.7 million during the same period in 2011.

The trust reported an occupancy rate of 97.1 per cent at the end of the quarter.

Brookfield Canada Office Properties owns a portfolio including stakes in 28 office properties totalling 20.7 million square feet in Toronto, Calgary, Ottawa and Vancouver.

Its local portfolio includes the two Place de Ville towers on Queen Street as well as the Jean Edmonds towers on Slater Street.

Units in the trust, which reported its results after the close of markets, were up 26 cents at $29.49 on the Toronto Stock Exchange on Monday.

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