page_title: Brookfield Properties
section_title: History
hierarchical_section_title: Brookfield Properties / History
caption_attribution_description: English: 1225 Connecticut Avenue NW is an office building in the Dupont Circle neighborhood of Washington, D.C. Built in 1968, with a $32 million renovation in 2009 by Brookfield Properties and RTKL Associates, 1225 Connecticut Avenue is the "second redeveloped building in the United States and the first within the major business districts of the East Coast to achieve LEED Platinum status." Tenants include Citibank and the World Bank.
context_page_description: Brookfield Properties is a North American subsidiary of commercial real estate company Brookfield Property Partners, which itself is a subsidiary of alternative asset management company Brookfield Asset Management. It is responsible for the property management of the company's real estate portfolio, which includes facilities in the office, multi-family residential, retail, hospitality, and logistics industries.
  Brookfield Properties operates corporate offices in New York City, Toronto, London, Sydney, and São Paulo. It is the second-largest shopping mall operator in the United States, after GGP Inc. was acquired by Brookfield Property Partners and merged into Brookfield Properties in 2018.
context_section_description: The company's roots go back to the early 1900s in Montreal, Quebec. It was known then as the Canadian Arena Company and operated the Montreal Arena. In a partnership with Toronto investors, it built the Arena Gardens in Toronto. In the 1920s, it built the Montreal Forum to house the Montreal Maroons and Montreal Canadiens National Hockey League franchises; from 1935 to 1957, the company also owned the Canadiens. The company was acquired by Edper Investments in 1970. During the 1970s, when the company was known as Carena Properties, it expanded its business into commercial real estate. After the Montreal Forum closed, the Forum was sold to competitor Canderel Properties.
  In 1989, Carena acquired a 33% interest in Olympia & York Developments Ltd., developers of the World Financial Center in New York, and in 1990, Brookfield acquired a 50% interest in a portfolio of office properties in Toronto, Denver and Minneapolis from BCE Development Corporation. In 1994, this holding was increased to 100% and included BCE Place, now Brookfield Place, Brookfield Properties' flagship office complex in Toronto.
  In 1996, Carena acquired a 46% interest in World Financial Properties, a corporation formed from the bankruptcy of Olympia & York, which included three of the four towers of the World Financial Center, One Liberty Plaza, 245 Park Avenue in Manhattan. That year, Carena changed its name to Brookfield Properties Corporation.
  In 1997, Brookfield Properties purchased 45% of Gentra, Inc., owner of several commercial properties in Toronto.
caption: Brookfield's 1225 Connecticut Avenue in Washington, D.C.[4]
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