Brookfield Asset Management has reportedly purchased “close to $1 billion of General Growth's unsecured debt in recent months.” According to this story by Pav Jordan in Reuters, the Canadian based firm would like to see GGP remain a single entity as opposed to selling off some of its key assets.
Brookfield would make a good partner for GGP. Unlike Simon Property Group, which has also been positioning itself for a play for GGP, Brookfield does not have a large stake in retail. The company has over $90 billion in assets under management and has “one of the largest portfolios of both premier office properties and hydroelectric power generation facilities as well as transmission and timberland operations, located in North and South America and Europe.”
A Brookfield GGP partnership would seem to be pretty synergistic.
Daily
4 hours ago
1 comments:
How does this play into the recent announcement of Simon Properties purchase of Prime Outlets?
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