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BUSINESS
November 20, 2003 | From Bloomberg News
Trizec Properties Inc., the second-largest U.S. real estate investment trust, said Wednesday that it had agreed to sell the 14-story Herbalife Building in Los Angeles to closely held Jamison Properties Inc. for $22.3 million in cash. The 358,000-square-foot building at La Cienega and Century boulevards was built in 1983. Its primary tenant is Herbalife International Inc., a marketer of weight-loss products.
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BUSINESS
June 6, 2006 | From Times Staff Reports and Bloomberg News
Brookfield Properties Corp., owner of the World Financial Center in Lower Manhattan, and buyout firm Blackstone Group agreed to acquire Trizec Properties Inc. for $4.8 billion plus the assumption of $4.1 billion in debt, the second-largest takeover of a real estate investment trust. Trizec, whose chairman is Canadian real estate mogul Peter Munk, would almost triple Toronto-based Brookfield's U.S.
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BUSINESS
June 6, 2006 | From Times Staff Reports and Bloomberg News
Brookfield Properties Corp., owner of the World Financial Center in Lower Manhattan, and buyout firm Blackstone Group agreed to acquire Trizec Properties Inc. for $4.8 billion plus the assumption of $4.1 billion in debt, the second-largest takeover of a real estate investment trust. Trizec, whose chairman is Canadian real estate mogul Peter Munk, would almost triple Toronto-based Brookfield's U.S.
BUSINESS
November 20, 2003 | From Bloomberg News
Trizec Properties Inc., the second-largest U.S. real estate investment trust, said Wednesday that it had agreed to sell the 14-story Herbalife Building in Los Angeles to closely held Jamison Properties Inc. for $22.3 million in cash. The 358,000-square-foot building at La Cienega and Century boulevards was built in 1983. Its primary tenant is Herbalife International Inc., a marketer of weight-loss products.
BUSINESS
August 29, 2003 | From Bloomberg News
MetLife Inc. on Thursday acquired the Sears Tower in Chicago, buying Trizec Properties Inc.'s interest in the tallest U.S. building for $9 million. The transaction allowed Trizec to avoid assuming a $766-million mortgage debt. "It's a terrific building, but it just wasn't right for us to own it at this time," said Rick Matthews, a spokesman for Trizec, the second-largest office real estate investment trust. Toronto-based Trizec, seeking to reduce its $3.2-billion debt, will continue as building manager and leasing agent.
BUSINESS
July 4, 1995
Trizec Properties Inc. said it has signed a $20-million lease deal with Panavision Inc. at Warner Center. The film equipment manufacturing and rental company will rent 152,454 square feet on 10.46 acres, the property management company said. Panavision is expected to take occupancy by June, 1996. Panavision is currently located in Tarzana. The current occupant of the Warner Center site, Dataproducts Corp., is expected to move to Simi Valley later this year, Trizec said.
BUSINESS
January 18, 2003 | Jesus Sanchez
Retail real estate executive Lee Wagman, who oversaw development of the Hollywood & Highland and Paseo Colorado shopping centers, announced his departure from Trizec Properties Inc. to start his own investment firm. Wagman, who is president of Los Angeles-based Trizec Retail & Entertainment, joined the company eight years ago and helped launch a dramatic expansion that has met with mixed results.
BUSINESS
March 1, 1989 | JAMES BATES, Times Staff Writer
How do you sell a company's headquarters and 22 acres you don't own? Better yet, for $57 million? A New York investment group has more or less done it. The group, DPC Acquisition Partners, announced Tuesday that it struck a tentative deal to sell Dataproducts Corp.'s headquarters in Woodland Hills and the land Dataproducts owns there to Trizec Properties, a big Canadian real estate company. But there's a catch: DPC first must gain control of Dataproducts.
REAL ESTATE
October 29, 1989 | RON GALPERIN, Galperin is a Los Angeles-based free-lance writer who has covered the commercial real estate scene for several years
If at first you don't succeed, try, try again. Such seems to be the moral for investors serious about buying a well-located property. For a primer on the pursuit, just ask Trizec Properties. Early this year, Trizec made an unsolicited offer for about 22 acres of plum Woodland Hills property, currently home to Dataproducts Corp. When the printer company refused, however, Trizec didn't settle for a no.
BUSINESS
August 29, 2003 | From Bloomberg News
MetLife Inc. on Thursday acquired the Sears Tower in Chicago, buying Trizec Properties Inc.'s interest in the tallest U.S. building for $9 million. The transaction allowed Trizec to avoid assuming a $766-million mortgage debt. "It's a terrific building, but it just wasn't right for us to own it at this time," said Rick Matthews, a spokesman for Trizec, the second-largest office real estate investment trust. Toronto-based Trizec, seeking to reduce its $3.2-billion debt, will continue as building manager and leasing agent.
BUSINESS
January 18, 2003 | Jesus Sanchez
Retail real estate executive Lee Wagman, who oversaw development of the Hollywood & Highland and Paseo Colorado shopping centers, announced his departure from Trizec Properties Inc. to start his own investment firm. Wagman, who is president of Los Angeles-based Trizec Retail & Entertainment, joined the company eight years ago and helped launch a dramatic expansion that has met with mixed results.
BUSINESS
January 4, 2003 | Roger Vincent, Times Staff Writer
Yet another area mall has been snapped up. Developers Diversified Realty Corp., the builder of the Pike retail project on the Long Beach shore, said it and a partner would buy the Paseo Colorado shopping center in Pasadena for $114 million from Trizec Properties Inc. Developers Diversified said in a Securities and Exchange Commission filing that it was acquiring 25% of the site for $28.4 million. The lead buyer was not identified, but Pasadena real estate sources say it is Lehman Bros.
BUSINESS
September 11, 1996 | Times Staff and Wire Reports
Horsham Seeks Merger With Trizec: The Toronto gold and oil holding company said it made the offer to Trizec Corp., in which it holds a 48% stake, in a deal that would create a real estate company with a market capitalization topping $1.5 billion. Toronto-based Trizec is one of North America's largest publicly traded real estate firms. Horsham Corp. also has stakes in Toronto-based Barrick Gold Corp., the world's third-biggest gold producer, and St. Louis-based refiner Clark USA Inc.
BUSINESS
July 4, 1995
Trizec Properties Inc. said it has signed a $20-million lease deal with Panavision Inc. at Warner Center. The film equipment manufacturing and rental company will rent 152,454 square feet on 10.46 acres, the property management company said. Panavision is expected to take occupancy by June, 1996. Panavision is currently located in Tarzana. The current occupant of the Warner Center site, Dataproducts Corp., is expected to move to Simi Valley later this year, Trizec said.
REAL ESTATE
October 29, 1989 | RON GALPERIN, Galperin is a Los Angeles-based free-lance writer who has covered the commercial real estate scene for several years
If at first you don't succeed, try, try again. Such seems to be the moral for investors serious about buying a well-located property. For a primer on the pursuit, just ask Trizec Properties. Early this year, Trizec made an unsolicited offer for about 22 acres of plum Woodland Hills property, currently home to Dataproducts Corp. When the printer company refused, however, Trizec didn't settle for a no.
BUSINESS
September 11, 1996 | Times Staff and Wire Reports
Horsham Seeks Merger With Trizec: The Toronto gold and oil holding company said it made the offer to Trizec Corp., in which it holds a 48% stake, in a deal that would create a real estate company with a market capitalization topping $1.5 billion. Toronto-based Trizec is one of North America's largest publicly traded real estate firms. Horsham Corp. also has stakes in Toronto-based Barrick Gold Corp., the world's third-biggest gold producer, and St. Louis-based refiner Clark USA Inc.
BUSINESS
January 4, 2003 | Roger Vincent, Times Staff Writer
Yet another area mall has been snapped up. Developers Diversified Realty Corp., the builder of the Pike retail project on the Long Beach shore, said it and a partner would buy the Paseo Colorado shopping center in Pasadena for $114 million from Trizec Properties Inc. Developers Diversified said in a Securities and Exchange Commission filing that it was acquiring 25% of the site for $28.4 million. The lead buyer was not identified, but Pasadena real estate sources say it is Lehman Bros.
BUSINESS
March 1, 1989 | JAMES BATES, Times Staff Writer
How do you sell a company's headquarters and 22 acres you don't own? Better yet, for $57 million? A New York investment group has more or less done it. The group, DPC Acquisition Partners, announced Tuesday that it struck a tentative deal to sell Dataproducts Corp.'s headquarters in Woodland Hills and the land Dataproducts owns there to Trizec Properties, a big Canadian real estate company. But there's a catch: DPC first must gain control of Dataproducts.
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