Brookfield Residential

Brookfield Residential Properties
Private
Industry Real estate development
Construction
Founded March 31, 2011 (2011-03-31)
Headquarters Calgary, Alberta, Canada
Key people
 Alan Norris
(President & CEO)
Total assets $4.5 billion[1]
Total equity $1.6 billion[2]
Number of employees
 950 (2013)[3]
Parent Brookfield Asset Management
Website www.brookfieldresidential.com

Brookfield Residential Properties Inc. is a land developer and homebuilder in North America.[4] The company entitles and develops land to create master planned communities, and builds and sells lots to third-party developers and to their own home building division.[5] The company also participates in select, strategic real estate opportunities including infill projects, mixed use developments, and joint ventures.[5] In February 2018 it acquired some of the assets of San Diego-based real estate company OliverMcMillan, a developer of large-scale mixed use properties.[6] Total assets as of June 30, 2018 were $4.5 billion.[7]

History

Brookfield Residential Properties Inc. was formed on March 31, 2011, upon the completion of a merger that combines Brookfield Homes Corporation with the residential group of Brookfield Office Properties consisting of Carma Developers and Brookfield Homes (Ontario) Limited.[4]

On March 13, 2015, Brookfield Asset Management and Brookfield Residential Properties Inc. announced the closing of the going private transaction of Brookfield Residential as a result of the 32.4 million common shares of Brookfield Residential acquired by Brookfield Asset Management.[5]

References

  1. ↑ Brookfield Residential. "Q2 Interim Report" (PDF).
  2. ↑ Brookfield Residential. "2014 Annual Report" (PDF).
  3. ↑ Brookfield Residential. "2013 Annual Report" (PDF).
  4. 1 2 Myke Thomas (April 4, 2011). "Merger makes Brookfield a real estate titan". Calgary Sun. Retrieved April 4, 2012.
  5. 1 2 3 Market Wired (March 13, 2015). "Brookfield Asset Management Closes Going Private Transaction of Brookfield Residential". Retrieved March 27, 2015.
  6. ↑ Brookfield Residential Acquires Developer Oliver McMillan, including “Certain Assets”, John Nelson, Shopping Centre Business (The Latest News) Feb 8, 2018
  7. ↑ Brookfield Residential 2018 Q2 Interim Report
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.