Rouse Properties
| Company type | Subsidiary |
|---|---|
| Industry | Real estate investment trust |
| Founded | 2011 |
| Defunct | July 6, 2016 (corporation) August 28, 2018 (brand) |
| Fate | Acquired by Brookfield Asset Management |
| Successor | Brookfield Properties Retail Group |
| Headquarters | New York City |
| Products | Shopping centers |
| Parent | Brookfield Asset Management |
| Website | rouseproperties |
Rouse Properties was a real estate investment trust headquartered in New York City. The company owned 35 shopping malls in 22 states encompassing approximately 24.5 million square feet of retail space.
History
In 2011, General Growth Properties announced that it would spin off a portfolio of 30 shopping malls as a new company named Rouse Properties.[1][2] The name was taken from the Rouse Company, which GGP had acquired in 2004.[2] The portfolio comprised most of GGP's Class B shopping centers (malls located in smaller cities, and second-tier malls in larger cities), allowing GGP to focus on its higher-performing properties.[3][4] The spin-off was completed on January 12, 2012.[5]
In February 2012, the company acquired Grand Traverse Mall for $66 million.[6]
In January 2013, the company acquired The Mall at Turtle Creek in Jonesboro, Arkansas for $96 million.[6]
In May 2014, the company began a $40 million renovation of NewPark Mall in Newark, California.[7]
In March 2015, the company defaulted a loan secured by Vista Ridge Mall in Lewisville, Texas.[8]
In November 2015, the company acquired The Shoppes at Carlsbad in Carlsbad, California.[9]
On July 6, 2016, the company was acquired by Brookfield Asset Management, becoming a brand of Brookfield Property Partners.[10][11]
In 2018, Brookfield also acquired GGP, Ultimately Rouse Properties brand was absorbed into Brookfield Properties Retail Group.[12]
Rouse Properties by state
Alabama
- Bel Air Mall, Mobile
Arizona
- The Mall at Sierra Vista, Sierra Vista
Arkansas
- The Mall at Turtle Creek, Jonesboro
California
- Bayshore Mall, Eureka
- The Shoppes at Carlsbad, Carlsbad
- Chula Vista Center, Chula Vista
- Fig Garden Village, Fresno
- Mt. Shasta Mall, Redding
- NewPark Mall, Newark
- Southland Mall, Hayward
- West Valley Mall, Tracy
Connecticut
- The Shops at Somerset Square, Glastonbury
Florida
- Lakeland Square Mall, Lakeland
Idaho
- Silver Lake Mall, Coeur D'Alene
Illinois
- Spring Hill Mall, West Dundee
Louisiana
- Mall St. Vincent, Shreveport
- Pierre Bossier Mall, Bossier City
Maryland
- Centre at Salisbury, Salisbury
Michigan
- Birchwood Mall, Fort Gratiot Township
- Grand Traverse Mall, Traverse City
- Lansing Mall, Lansing
- Southland Center, Taylor
- Westwood Mall, Jackson
Mississippi
- The Mall at Barnes Crossing, Tupelo
New Jersey
- Monmouth Mall, Eatontown
New Mexico
- Animas Valley Mall, Farmington
- North Plains Mall, Clovis
North Carolina
- Greenville Mall, Greenville
- Independence Mall, Wilmington
- Valley Hills Mall, Hickory
Oklahoma
- Washington Park Mall, Bartlesville
Oregon
- Gateway Mall, Springfield
Texas
- Sikes Senter, Wichita Falls
Utah
- Cache Valley Mall, Logan
Virginia
- Chesterfield Towne Center, Chesterfield
Washington
- Three Rivers Mall, Kelso
Wyoming
- White Mountain Mall, Rock Springs
References
- ^ Toth, Sara (August 3, 2011). "GGP to transfer 30 malls to new Rouse Properties, Inc". Baltimore Sun. Retrieved 2021-11-13.
- ^ a b Clabaugh, =Jeff (August 2, 2011). "General Growth to bring back Rouse name with new spin off". Baltimore Business Journal. Retrieved 2021-11-13.
{{cite news}}: CS1 maint: extra punctuation (link) - ^ Information Statement (Report). Rouse Properties. December 20, 2011 – via EDGAR.
- ^ Greta Weiderman (January 4, 2012). "General Growth to spin off weak malls". St. Louis Business Journal. Retrieved 2021-11-13.
- ^ Lipp, Linda (January 20, 2012). "Mall owner spins off 30 properties, retains Glenbrook Square". Greater Fort Wayne Business Weekly – via NewsBank.
- ^ a b Martinez, Shandra (February 27, 2012). "General Growth Properties' spin-off company buys Grand Traverse Mall for $66 million". Advance Publications.
- ^ "Jonesboro's Turtle Creek Mall sells for $96M". Associated Press. January 3, 2013.
- ^ Carlisle, Candace (March 18, 2015). "Vista Ridge Mall owner looks to walk away and list it for foreclosure". American City Business Journals.
- ^ Molnar, Phillip (November 12, 2015). "Westfield Carlsbad purchased for $170 million". San Diego Union Tribune.
- ^ "Rouse Properties, Inc. Debuts as Publicly Traded Regional Mall REIT" (Press release). Business Wire. July 6, 2016.
- ^ "Brookfield Completes $2.8 Billion Rouse Properties Acquisition". Costar Group.
- ^ "Brookfield Property Partners L.P. Completes Acquisition of GGP Inc" (Press release). GlobeNewswire. August 28, 2018.