Brookfield Properties Corp., the commercial real estate landlord with $1.2 billion in residential assets, plans to exit the housing business to focus on owning and running office space worldwide.

TORONTO - Brookfield Properties Corp. (TSX:BPO) and its Canadian-based subsidiary BPO Properties Ltd. (TSX:BPP) said Friday that they will create a new real estate investment trust.

Real estate developer Brookfield Properties Corp. on Thursday said its board declared a quarterly dividend of 14 cents. The real estate investment trust said the dividend is payable on Dec. 31 to shareholders of record as of Dec.... Sponsored Topics: Real estate - Real estate investment trust - Brookfield Properties - Business - Investing