Brookfield Properties Corp., (BPO,BPO.TO) announced that it has entered into a joint venture partnership with Edge Fund Advisors on the 1625 Eye St., NW office property in Washington, DC. In joining the venture, Edge Fund will assume a 90% common membership interest in the building by contributing $203.4 million, or $587 per leasable square foot. Brookfield will maintain a 10% common membership interest as well as a preferred interest in the venture, and will retain property management and leasing responsibilities at the building.
In a separate transaction also completed today, Brookfield Properties sold One Bethesda Center, a 170,000-square-foot building in Bethesda, Maryland, to JBG Associates, LLC. The two transactions generated about $103 million in net proceeds for Brookfield Properties.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.