Willkie Advises on Brookfield’s $426 Million Acquisition of MPG Office Trust

May 2, 2013

Willkie represents Australia’s Future Fund, a key investor, in certain aspects of the transaction.

On April 25, it was announced that Brookfield Office Properties Inc. and its affiliates have entered into a definitive merger agreement with MPG Office Trust, Inc. pursuant to which a newly formed fund ("DTLA Holdings") controlled by Brookfield will acquire MPG for a total equity value of about $426 million. DTLA Holdings will own both Brookfield’s existing downtown Los Angeles office assets and all of the assets of MPG. Willkie client Future Fund, through its Brookfield-managed account, invested $200 million in the new fund. Australia-based Future Fund is a financial asset fund designed to accumulate financial assets and invest them on behalf of the Australian government to address the government’s unfunded superannuation liability. MPG Office Trust, Inc. is the largest owner and operator of Class A office properties in the Los Angeles central business. Brookfield Office Properties owns, develops and manages premier office properties in the United States, Canada, Australia and the United Kingdom.

The deal was handled by partner Gregory Astrachan and associates Carly Glover, Ann Harrington, Kathryn Allen, Edward Dix and Jennifer DiNicola.