Brookfield Office Properties Announces One New York Plaza Has Reopened
November 19 2012 - 2:41PM
Marketwired
Brookfield Office Properties Inc. (NYSE: BPO) (TSX: BPO) today
announced that One New York Plaza, the company's
2.6-million-square-foot office building located at the southern tip
of Manhattan, reopened for business on Saturday, November 17.
"Our property operations and maintenance personnel worked around
the clock to remove all water, restore services and ready the
building for our tenants' safe return," said Chief Executive
Officer Dennis Friedrich. "Thanks to their hard work, One New York
Plaza is back in business."
Brookfield carries comprehensive property, casualty and flood
insurance and full coverage of losses is anticipated. The storm
will have no material financial impact on the company.
Brookfield is the largest office owner in Lower Manhattan with
seven properties totaling 13 million square feet. The
eight-million-square-foot World Financial Center complex retained
power throughout the storm and was open for business on Wednesday,
October 31. One Liberty Plaza, Brookfield's other downtown asset,
had its power restored and reopened on Friday, November 2.
About Brookfield Office Properties
Brookfield Office Properties owns, develops and manages premier
office properties in the United States, Canada and Australia. Its
portfolio is comprised of interests in 114 properties totaling 80
million square feet in the downtown cores of New York, Washington,
D.C., Houston, Los Angeles, Toronto, Calgary, Ottawa, London,
Sydney, Melbourne and Perth, making it the global leader in the
ownership and management of office assets. Landmark properties
include the World Financial Center in Manhattan, Brookfield Place
in Toronto, Bank of America Plaza in Los Angeles, Bankers Hall in
Calgary, Darling Park in Sydney and Brookfield Place in Perth. The
company's common www.brookfieldofficeproperties.com.
Forward-Looking Statements This press
release contains "forward-looking information" within the meaning
of Canadian provincial securities laws and "forward-looking
statements" within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, Section 21E of the U.S.
Securities Exchange Act of 1934, as amended, "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995 and in any applicable Canadian securities
regulations. Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or
conditions, include statements regarding the operations, business,
financial condition, expected financial results, performance,
prospects, opportunities, priorities, targets, goals, ongoing
objectives, strategies and outlook of the company and its
subsidiaries, as well as the outlook for North American and
international economies for the current fiscal year and subsequent
periods, and include words such as "expects", "anticipates",
"plans", "believes", "estimates", "seeks", "intends", "targets",
"projects", "forecasts" or negative versions thereof and other
similar expressions, or future or conditional verbs such as "may",
"will", "should", "would" and "could".
Although we believe that our anticipated future results,
performance or achievements expressed or implied by the
forward-looking statements and information are based upon
reasonable assumptions and expectations, the reader should not
place undue reliance on forward-looking statements and information
because they involve known and unknown risks, uncertainties and
other factors, many of which are beyond our control, which may
cause the actual results, performance or achievements of the
company to differ materially from anticipated future results,
performance or achievement expressed or implied by such
forward-looking statements and information.
Factors that could cause actual results to differ materially
from those contemplated or implied by forward-looking statements
include, but are not limited to: risks incidental to the ownership
and operation of real estate properties including local real estate
conditions, the ability to enter into new leases or renew leases on
favorable terms, dependence on tenants' financial condition,
uncertainties of real estate development, acquisition and
disposition activity; the impact or unanticipated impact of general
economic, political and market factors in the countries in which we
do business; the behavior of financial markets, including
fluctuations in interest and foreign exchanges rates; global equity
and capital markets and the availability of equity and debt
financing and refinancing within these markets; the ability to
complete and effectively integrate acquisitions into existing
operations and the ability to attain expected benefits therefrom;
changes in accounting policies and methods used to report financial
condition (including uncertainties associated with critical
accounting assumptions and estimates); the effect of applying
future accounting changes; business competition; operational and
reputational risks; changes in government regulation and
legislation within the countries in which we operate; changes in
tax laws, catastrophic events, such as earthquakes and hurricanes;
the possible impact of international conflicts and other
developments including terrorist acts; and other risks and factors
detailed from time to time in our documents filed with the
securities regulators in Canada and the United States.
We caution that the foregoing list of important factors that may
affect future results is not exhaustive. When relying on our
forward-looking statements, investors and others should carefully
consider the foregoing factors and other uncertainties and
potential events. Except as required by law, the company undertakes
no obligation to publicly update or revise any forward-looking
statements or information, whether written or oral, that may be as
a result of new information, future events or otherwise.
Contact: Melissa Coley Vice President, Investor Relations
and Communications (212) 417-7215 Email Contact