October 29, 2008 / 3:44 PM / 10 years ago

Brookfield says Merrill lease renewal talks on hold

TORONTO, Oct 29 (Reuters) - Brookfield Properties BPO.TO BPO.N said on Wednesday it was too early to forecast the impact on occupancy levels at its World Financial Center in New York, ahead of a pending merger of its tenant Merrill Lynch MER.N and Bank of America (BAC.N).

Brookfield, one of Manhattan’s biggest landlords, said lease renewal talks with Merrill Lynch were on hold pending the takeover.

Merrill Lynch & Co Inc, whose 13,000 employees occupy about 3.2 million square feet of New York office space, recently agreed to be bought by Bank of America.

The Merrill lease for 4.2 million square feet at Brookfield’s World Financial Center ends in 2013. Merrill occupies 2.6 million square feet there and sublets 1.6 million. (Reporting by Ka Yan Ng; editing by Rob Wilson)

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