Brookfield Properties, which is listed on the New York and Toronto stock exchanges, and Canadian REIT Calloway Real Estate say their fundamentals have stabilized, but near-term prospects still are muted. "Things are definitely improving, we're excited about it, but there are some negative signs out there too, so it's kind of a wait-and-see," Brookfield Properties CEO Ric Clark says. Also, Calloway REIT says acquisition opportunities still are scarce. Instead, "we're seeing some renewed interest in expanding from our existing tenants, as well as some potential new tenants," CEO Simon Nyilassy says.

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