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Trizec Properties
Trizec Properties, Inc., previously known as TrizecHahn Corporation, was a real estate investment trust headquartered in Chicago, Illinois. It was originally a Canadian company. The name is derived from the initials of the three groups (Tri) that formed Trizec Properties Ltd: Zeckendorf, Eagle Star, and Covent Gardens.
In 1994, it was acquired by Peter Munk and in October 2006, it was acquired by Brookfield Properties and The Blackstone Group.
Trizec was founded in 1960 by William Zeckendorf with British associates recapitalize the Place Ville Marie development in Montreal.
In the 1970s, the Toronto branch of the Bronfman family acquired a 50.1% controlling interest in Trizec through its holding company, Edper Investments. The Bronfmans were also owners of Carena Properties, successor to the Canadian Arena Company. In the 1980s, Trizec acquired The Hahn Company. The Bronfman family hired Harold Milavsky to lead Trizec as Chairman and CEO for nearly 20 years. Harold was instrumental in the tremendous growth of Trizec during these years, making it one of the largest real estate companies in North America in the 1980s.
Trizec had an immense portfolio of shopping centres, including but not limited to, Yorkdale Shopping Centre, Scarborough Town Centre, as well as Markham Place (The Shops on Steeles and 404). Trizec subsequently sold off Markham Place to Bramalea (company) in 1986.
In 1984, Trizec acquired a controlling interest in Toronto-based property developer Bramalea Ltd. After adding $5 billion in debt to finance rapid expansion during the 1980s property boom, Bramalea collapsed in the early 1990s, and in 1995, its U.S. subsidiary went bankrupt in the largest bankruptcy of a U.S. house developer. With restructuring of Trizec, Edper's equity was reduced to a nominal amount.
In 1994, Trizec Corporation was acquired by Peter Munk's Horsham Corporation.
It moved its headquarters from Calgary to Toronto. Horsham Corporation and Trizec Corporation were amalgamated in 1996 to form TrizecHahn Corporation.
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Trizec Properties
Trizec Properties, Inc., previously known as TrizecHahn Corporation, was a real estate investment trust headquartered in Chicago, Illinois. It was originally a Canadian company. The name is derived from the initials of the three groups (Tri) that formed Trizec Properties Ltd: Zeckendorf, Eagle Star, and Covent Gardens.
In 1994, it was acquired by Peter Munk and in October 2006, it was acquired by Brookfield Properties and The Blackstone Group.
Trizec was founded in 1960 by William Zeckendorf with British associates recapitalize the Place Ville Marie development in Montreal.
In the 1970s, the Toronto branch of the Bronfman family acquired a 50.1% controlling interest in Trizec through its holding company, Edper Investments. The Bronfmans were also owners of Carena Properties, successor to the Canadian Arena Company. In the 1980s, Trizec acquired The Hahn Company. The Bronfman family hired Harold Milavsky to lead Trizec as Chairman and CEO for nearly 20 years. Harold was instrumental in the tremendous growth of Trizec during these years, making it one of the largest real estate companies in North America in the 1980s.
Trizec had an immense portfolio of shopping centres, including but not limited to, Yorkdale Shopping Centre, Scarborough Town Centre, as well as Markham Place (The Shops on Steeles and 404). Trizec subsequently sold off Markham Place to Bramalea (company) in 1986.
In 1984, Trizec acquired a controlling interest in Toronto-based property developer Bramalea Ltd. After adding $5 billion in debt to finance rapid expansion during the 1980s property boom, Bramalea collapsed in the early 1990s, and in 1995, its U.S. subsidiary went bankrupt in the largest bankruptcy of a U.S. house developer. With restructuring of Trizec, Edper's equity was reduced to a nominal amount.
In 1994, Trizec Corporation was acquired by Peter Munk's Horsham Corporation.
It moved its headquarters from Calgary to Toronto. Horsham Corporation and Trizec Corporation were amalgamated in 1996 to form TrizecHahn Corporation.
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