Two left on list for prime site article by Florence Chong;...

Two left on list for prime site article by Florence Chong; The
Australian

A consortium of Leighton Holdings, Mirvac and Macquarie Capital has been
eliminated from the tender process for a waterfront development in
Sydney. The Barangaroo Delivery Authority is now considering just two
groups for the $A3bn project, Lend Lease and Brookfield Multiplex. A
decisions is due in early 2010. Lend Lease has extensive prior
experience in developing the surrounding precinct;

Brookfield Launches US$4 Billion Real Estate Turnaround Consortium
TORONTO--(BUSINESS WIRE) Aug. 11, 2009
Brookfield Asset Management Inc. (NYSE/TSX/Euronext: BAM) and Brookfield
Properties Corporation (NYSE/TSX: BPO) (collectively, "Brookfield")
today announced the formation of a US$4 billion Investor Consortium
dedicated to investing in under-performing real estate. The Consortium
will invest in equity and debt in under-valued real estate companies or
real estate portfolios where value can be created for stakeholders in a
variety of ways, including financial and operational restructuring,
strategic direction or sponsorship, portfolio repositioning,
redevelopment or other active asset management. Investments will be
targeted at corporate property restructurings with a minimum US$500
million equity commitment, and pursued on a global basis, but with a
focus on North America, Europe and Australasia.

In addition to Brookfield, the participants in the Consortium consist of
a number of institutional real estate investors who have each allocated
between US$300 million and US$1 billion to the Consortium. Brookfield
has allocated US$1 billion to the Consortium with opportunities in the
office sector being funded by Brookfield Properties, at its option, and
opportunities in other sectors being funded by Brookfield Asset
Management. The Consortium participants have expertise in investing
across different geographies and property types and this expertise will
be pooled together to maximum advantage in individual investment
opportunities.