Brookfield Office Gains in FFO, NOI

NEW YORK CITY-Having launched work on its Manhattan West mixed-use development here last month, Brookfield Office Properties on Friday marked the successful close of the previous quarter and year. BPO reported a year-over-year increase in funds from operations for both the fourth quarter of 2012 and the twelve months that ended Dec. 31. The same could be said about BPO’s commercial property NOI for both Q4 and the year as a whole.

“It was another successful year for Brookfield Office Properties, characterized by solid leasing achievements, expansion into new target markets and the advancement of several major development projects,” Dennis Friedrich, CEO of BPO, says in a statement. “We are poised to reap substantial benefits from these initiatives in 2013 and beyond as the economy continues its gradual improvement.”