August 5, 2011 / 12:17 PM / 7 years ago

UPDATE 1-Brookfield Office Q2 leasing rises 23 percent

* Q2 FFO $0.30/unit vs $0.30/unit last year

* Occupancy rate finished at 93.8 pct

* Q2 property oper income rises 21 pct to $217 mln (Follows alerts)

Aug 5 (Reuters) - Brookfield Office Properties reported a 23 percent jump in leasing activity as demand rose with an improvement in global economy.

Brookfield, a major office landlord in Manhattan and other North American cities, said it leased 1.6 million square feet of space during the quarter, up slightly from 1.3 million square feet leased in the year-before quarter.

The company said FFO for the second quarter was $166 million, or $0.30 per share. In the year-ago quarter, it was $156 million, or $0.30 per share, a year ago.

FFO is a measure that strips out the effects of depreciation and other factors from the earnings of property companies.

Commercial property net operating income for the second quarter rose 21 percent to $217 million.

Brookfield shares closed at C$8.98 Thursday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Saumyadeb Chakrabarty)

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