Rouse Properties
Defunct real estate company from New York City
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] Rouse Company , which GGP had acquired in 2004.[ 2] [ 3] [ 4] [ 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]
In 2016, Brookfield Asset Management , which owned 33 percent of Rouse Properties, made an unsolicited offer to purchase the rest of the company.[ 10] [ 11] [ 12] [ 13] [ 14]
In 2018, Brookfield also acquired GGP. Ultimately the Rouse Properties brand was absorbed into Brookfield Properties .[ 15]
Properties
Animas Valley Mall — Farmington, New Mexico Bayshore Mall — Eureka, California Bel Air Mall — Mobile, Alabama Birchwood Mall — Fort Gratiot Township, Michigan Cache Valley Mall — Logan, Utah Centre at Salisbury — Salisbury, Maryland Chesterfield Towne Center — Chesterfield, Virginia Chula Vista Center — Chula Vista, California Collin Creek Mall — Plano, Texas (sold to lender in 2014)Fig Garden Village — Fresno, California
Gateway Mall — Springfield, Oregon Grand Traverse Mall — Traverse City, Michigan Greenville Mall — Greenville, North Carolina Independence Mall — Wilmington, North Carolina Lakeland Square Mall — Lakeland, Florida Lansing Mall — Lansing, Michigan The Mall at Barnes Crossing — Tupelo, Mississippi The Mall at Sierra Vista — Sierra Vista, Arizona The Mall at Turtle Creek — Jonesboro, Arkansas Mall St. Vincent — Shreveport, Louisiana Monmouth Mall — Eatontown, New Jersey Mt. Shasta Mall — Redding, California
NewPark Mall — Newark, California North Plains Mall — Clovis, New Mexico Pierre Bossier Mall — Bossier City, Louisiana Sikes Senter — Wichita Falls, Texas Silver Lake Mall — Coeur D'Alene, Idaho Southland Mall — Hayward, California The Shoppes at Carlsbad — Carlsbad, California The Shops at Somerset Square — Glastonbury, Connecticut
Southland Center — Taylor, Michigan Spring Hill Mall — West Dundee, Illinois Three Rivers Mall — Kelso, Washington Valley Hills Mall — Hickory, North Carolina Washington Park Mall — Bartlesville, Oklahoma West Valley Mall — Tracy, California Westwood Mall — Jackson, Michigan White Mountain Mall — Rock Springs, Wyoming
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 . ^ 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 ^ Dummett, Ben (January 19, 2016). "Brookfield Asset Management offers all cash for Rouse Properties" . Wall Street Journal . Retrieved 2021-11-13 . ^ Deveau, Scott; Carmiel, Oshrat (January 20, 2016). "Brookfield makes a $957m move on Rouse Properties in the US" . Australian Financial Review . Retrieved 2021-11-13 . ^ "Rouse Properties agrees to sweetened Brookfield offer" . Reuters . February 25, 2016. Retrieved 2021-11-13 .^ "Mall's parent company merges with Brookfield in $2.8 billion deal" . Times Record News . Wichita Falls, TX. July 7, 2016. Retrieved 2021-11-13 .^ "Rouse Properties, Inc. Debuts as Publicly Traded Regional Mall REIT" (Press release). Business Wire . July 6, 2016.^ "Brookfield Property Partners L.P. Completes Acquisition of GGP Inc" (Press release). GlobeNewswire . August 28, 2018.
