Aladdin mall developer selling some assets

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Thursday, March 30, 2000 | 10:59 a.m.

TORONTO -- TrizecHahn Corp., one of North America's biggest commercial landlords, said it plans to sell the majority of its Canadian office holdings for about $1.2 billion and expects to sell additional U.S. assets this year.

Proceeds from the sales, the Toronto-based company said, will be used to fund a $500 million stock buyback program, as well as technology investments related to the TrizecHahn's real estate assets.

TrizecHahn has ownership interests in 125 properties in the United States, Canada and Europe. It's building the Desert Passage retail mall at the Aladdin hotel-casino on the Las Vegas Strip.