Trizec Properties, Inc., a real estate investment trust (REIT), engages in the ownership and management of office properties in the United States. As of December 31, 2005, it owned interests in a portfolio of 50 office properties comprising approximately 36.8 million square feet in the metropolitan areas of Atlanta, Georgia; Chicago, Illinois; Dallas and Houston, Texas; Los Angeles, California; New York, New York; and Washington, D.C. The company has elected to be treated as REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income tax, provided it distributes at least 90% of its taxable income to its shareholders. Trizec was founded in 1923. It was formerly known as Trizec (USA) Holdings, Inc. and changed its name to TrizecHahn (USA) Corporation in 1996. Further, it changed its name to Trizec Properties, Inc. in 2002. The company is headquartered in Chicago, Illinois.