Tuesday, November 6, 2018

Brookfield To 'Future-Proof' GGP Malls By Turning Them Into 'Mini Cities'

Brookfield has hinted at its plans for the malls it acquired late in the summer when it bought GGP in a $15B takeover.

According to Brookfield CEO Brian Kingston during the company's recent Q3 earnings call, some assets might be sold — about 25 — but most will be redeveloped.

"... [W]e do think within that 100-or-so core portfolio of assets on a longer-term base, introducing other uses and effectively turning them into mini-cities is really how to future-proof all of these assets," Kingston said, though he didn't go into detail about what constitutes a "mini-city.". . . more

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