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Brookfield Bets Malls Have A Future With $15B Ggp Deal

by posted 10months ago 65 views
Brookfield Asset Management Inc. is betting against the retail apocalypse with its takeover of GGP Inc., slated to close Tuesday. The Toronto-based firm is paying about $15 billion for the second-largest mall owner in the U.S. as investors -- and shoppers -- shun brick-and-mortar retail. Brookfield, which already owned a third of GGP, was the only bidder that showed up when the company put itself on the block last year. “We look for places where people are running away from,” said Brian Kingston, chief executive of Brookfield Property Partners LP, the asset manager’s publicly traded real estate arm.

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