Brookfield Looking to Sell a MetroTech Leasehold

The leasehold interest of 9 and 11 MetroTech Center are being offered for sale by Brookfield Asset Management, the company looking to fetch up to $300 million for its leasehold interest that has over 75 years of term remaining. New York City owns the land beneath the buildings that are leased to the city for the Fire Department and Department of Information Technology and Telecommunications; and offer 317,000 square feet and 216,000 square feet respectively. The pair of properties are located within the multi-building MetroTech complex that Brookfield acquired in 2018 through its $6.8 billion purchase of Forest City Realty Trust.