NEW YORK, September 15, 2008 – Brookfield Properties Corporation (BPO: NYSE, TSX) today reported that physical evaluations are currently underway on its portfolio of office buildings in Houston as a result of Hurricane Ike. Preliminary reports indicate window, water, and other associated collateral damage that appears to be minimal.
Brookfield is working to make the necessary building repairs and coordinating with City of Houston authorities to ensure the safety of all tenants and visitors prior to reopening its properties. The majority of its properties have been reopened with the balance anticipated to reopen over the next few days.
Brookfield has been in contact with its tenants and employees to ensure they are aware of the current situation at their respective buildings.
Brookfield is the largest office owner in downtown Houston with over nine million square feet at the following properties: Total Plaza (1201 Louisiana Street); Devon Energy Tower (Two Allen Center), One, Three and Four Allen Center; Continental Center 1 & 2; KBR Tower; and 500 Jefferson Street.
Brookfield Properties Profile
One of North America's largest commercial real estate companies, Brookfield Properties Corporation owns, develops and manages premier office properties. The office portfolio is comprised of interests in 108 properties totaling 74 million square feet in the downtown cores of New York, Boston, Washington, D.C., Los Angeles, Houston, Toronto, Calgary and Ottawa. Landmark assets include the World Financial Center in Manhattan, Brookfield Place in Toronto, Bank of America Plaza in Los Angeles and Bankers Hall in Calgary. The corporation also holds interests in over 16 million square feet of high-quality, centrally located development and redevelopment properties in its major markets. The corporation’s common shares trade on the NYSE and TSX under the symbol BPO. For more information, visit
www.brookfieldproperties.com.
Contact: Melissa Coley, Vice President, Investor Relations and Communications, telephone: (212) 417–7215; email:
melissa.coley@brookfieldproperties.com.