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9. Brookfield buys MPG Office
9. Brookfield buys MPG OfficeToronto’s Brookfield became big in L.A. in October when its Office Properties division moved in on MPG Office Trust, making it the biggest landlord downtown. The US$2-billion deal sees the Canadian real estate investment firm take control of some of the tallest towers in L.A.’s financial district, a part of town that had long been forlorn and forsake. That began to change in the late 1990s when the L.A. Lakers and Kings moved in, bringing ESPN and the glitter of Hollywood with them. Then came the shops, condos and restaurants and suddenly downtown became the place to be. Cue the froth and frenzy, the mad dash to build and the inevitable slump. Which, of course, is when the long-term buyers stroll in, with money in hand and all of the time in the world.

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