6 February 2011 – Sunday Times
By Oliver Shah
Sale of development projects suggest Canadian property giant, which owns part of Canary Wharf, is scaling back its British operation Brookfield, the Canadian property giant, has sold out of a string of development projects in a move that suggests it is scaling back its presence in Britain.
The Reuben brothers have bought Brookfield out of three 50:50 joint ventures in a deal worth £260m — the Eden shopping centre in High Wycombe, the St James retail park outside Newcastle and a 42-acre site in the city centre.
Separately, Royal Bank of Scotland has taken control of Brookfield’s Friars Square shopping centre in Aylesbury. Last June, Brookfield sold its half of a 370-acre regeneration project at Brent Cross, north London, to its joint venture partner Hammerson.
Brookfield is based in Ontario and runs more than £62 billion of assets. Its other British investments include a 50% stake in a City tower planned by Great Portland Estates at 100 Bishopsgate and a 15% share in Canary Wharf.