Central Parking System Awarded Multi-City Portfolio

Central Parking System, Inc. announced that it has been selected by Brookfield Real Estate Opportunity Fund (BREOF) to operate a portfolio of four parking facilities located in Milwaukee, WI; Charleston, WV; Baton Rouge, LA; and Arlington, VA.
These parking facilities, which will be operated under lease agreements, contain 1,600 spaces and serve the attached commercial office buildings. The facilities will be operated on a 24/7 basis.

We are pleased to have Central Parking System handling our parking operations, said Michelle Berliner, BREOFs Vice President of Asset Management. We have found Central to be innovative and flexible in working through the unique characteristics of each property. Central plans to make enhancements in technology that will result in lower operating costs and better customer service. We look forward to having Central take the parking management tasks off our plate so we can focus on our core business.

Central Parking System President and Chief Executive Officer Emanuel J. Eads commented, BREOFs selection of Central Parking to operate this portfolio of diverse garages located in different cities demonstrates our ability to provide a single source parking solution to real estate owners and managers with parking facilities in different cities. We look forward to working with BREOF to implement our proposed changes in the operations of these facilities.

About the Brookfield Real Estate Opportunity Fund

Brookfield Real Estate Opportunity Fund, established by Brookfield Asset Management Inc., invests opportunistically in real estate in North America, including commercial office, industrial and mixed-use properties in major North American markets. Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has over $70 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM.
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