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NEW YORK CITY-In keeping with what CEO Dennis Friedrich calls “a new phase of growth,” Brookfield Office Properties on Friday reported strong quarterly results for the three months that ended March 31. Friedrich’s comment referred specifically to the development under way at BPO’s Manhattan West project in New York City and the second phase of Bay Adelaide Centre in Toronto, but the financials also reflected an uptick, with year-over-year gains in funds from operations, commercial property net income and same-store NOI during Q1.

FFO for Q1 was $189 million or $0.33 per diluted common share, up from $154 million or $0.27 per diluted common share the year prior. Commercial property net operating income for the first quarter increased to $349 million, compared with $312 million in Q1 2012, while same property NOI rose 2% year over year.

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