February 15, 2011 / 11:38 PM / in 7 years

UPDATE 1-Brookfield Office Properties Canada Q4 dips

* Q4 FFO/unit $0.29 vs $0.34 last year

* Names Rael Diamond as CFO

Feb 15 (Reuters) - Canadian real estate investment trust Brookfield Office Properties Canada BOX_u.TO reported lower fourth-quarter results and named Rael Diamond as Chief Financial Officer.

Diamond replaces Bryan Davis, who will continue as CFO of Brookfield’s unit.

For the quarter ended Dec.31, it reported funds from operations (FFO) of C$27 million, or 29 Canadian cents per unit, compared with C$32.2 million, or 34 Canadian cents per share, a year ago.

Adjusted FFO was 20 Canadian cents per unit compared with 19 Canadian cents per unit a year ago.

FFO, a measure of performance of a real estate investment trusts, removes the profit-reducing effect that depreciation has on earnings.

Shares of the company closed at C$21.50 on Tuesday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Roshni Menon)

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