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Brookfield picks advisers for potential A$500M stake sales in 2 Sydney buildings

Brookfield Properties appointed unnamed advisers as it considers the sale of its half-stakes in each of two office buildings in Sydney, transactions that could fetch an estimated A$500 million, The Australian reported.

Interests in the 15-level building with 27,760 square meters of space at 10 Shelley St. and in the 14,967-square-meter American Express House at 12 Shelley St. might be up for grabs if the divestment is pursued, according to the Sept. 6 report.

Recently, the Brookfield Asset Management Inc. subsidiary also sold its 50% stakes in two other office buildings in the Australian city for about A$500 million.