Investing - Brookfield Asset Management

Office – Active Development Pipeline
• A development ready pipeline totalling ±10 million square feet
– Total cost to build of $7 billion or $800 per square foot
– Portfolio estimated to generate $545 million of incremental NOI once stabilized
– New equity investment required totals $800 million
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– Targeted yield on cost of 8% - 10%
– Targeted levered IRR’s of 15% - 20%
(millions)
Sq. Ft.
City Square South – Perth 345
100 Bishopsgate – London 950
Manhattan West – New York 5,400
Bay Adelaide Centre – Toronto 900
Herald Block – Calgary 1,200
Other 1,000
Total 9,795
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Assumes a 50% equity partner in Manhattan West
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| Brookfield Asset Management Inc.