| 词条 | Brookfield Properties Retail Group |
| 释义 |
| name = Brookfield Properties Retail Group | logo = Brookfield Asset Management logo.svg | logo_size = 250px | type = Subsidiary | traded_as = {{NYSE was|GGP}} | industry = Real estate investment trust | genre = Shopping malls | predecessors = {{plainlist|
}} | founded = {{Start date and age|2018|8|28}} | hq_location = | hq_location_city = Chicago, Illinois | hq_location_country = US | area_served = United States | key_people = {{plainlist|
}} | revenue = {{increase}} $2.346 billion | revenue_year = GGP, 2016 | net_income = {{increase}} $1.272 billion | net_income_year = GGP, 2016 | assets = {{decrease}} $22.732 billion | assets_year = GGP, 2016 | equity = {{increase}} $8.635 billion | equity_year = GGP, 2016 | num_employees = 1,800 | num_employees_year = GGP, 2016 | parent = Brookfield Property Partners | website = {{URL|brookfieldpropertiesretail.com}} }} Brookfield Properties Retail Group (abbreviated BPRG) is an American retail real estate investment trust headquartered in Chicago, Illinois. It is a subsidiary of Brookfield Property Partners and the successor of General Growth Properties (GGP), which was founded in 1954 and acquired by Brookfield in 2018. Brookfield acquired Rouse Properties in 2016, which was merged into BPRG with the completion of the GGP acquisition. Its portfolio consists of 162 shopping malls in the United States comprising approximately {{convert|146000000|ft}} of gross leasable area. History of General Growth1954–1999General Growth was founded in Iowa by three brothers, Martin, Matthew and Maurice Bucksbaum,[1] in 1954 as General Management.[2] That year, they borrowed $1.2 million to develop their first shopping center, Town & Country Shopping Center in Cedar Rapids, Iowa, in order to open a fourth location for the grocery store founded by their father.[3] By 1964, the company owned 5 malls and moved its headquarters to Des Moines, Iowa.[2] In 1970, General Management became General Growth Properties (GGP) and became a public company via an initial public offering.[2] In 1984, the company sold its holdings to Equitable Real Estate Investment Management for $800 million in the largest-ever single-asset real estate transaction to date, but retained the property management of the assets.[4] In 1989, the company acquired Center Companies, creating the fourth-largest shopping center management company in the United States.[5][6] In 1993, the company once again became a public company via an initial public offering, raising $400 million.[6] In 1994, the company purchased a 40% interest in Centermark Properties from Prudential Financial.[7][8] In 1995, the company sold 25% of its 40% stake, yielding a profit of over $100 million. In 1995, the company also purchased the Homart Development Company from Sears for $1.85 billion.[9] In 1995, co-founder and CEO Martin Bucksbaum died and the company moved its headquarters from Des Moines to Chicago.[3][10] In 1999, John Bucksbaum succeeded his father as CEO.[11] 2000–2018In 2000, the company moved its headquarters from Des Moines to Chicago.[2] The company occupied a historic building on North Wacker Drive designed by architectural firm Graham, Anderson, Probst & White, that was later demolished.[12] In 2004, the company acquired The Rouse Company, which owned 37 regional shopping malls and Howard Hughes Corporation, a land development company, for $7.2 billion in cash.[13][14] By 2008, the company had taken on $25 billion in debt and the company was facing required debt payments. John Bucksbaum was ousted as CEO, though he remained chairman of the board, and Adam Metz was named CEO.[11] In December 2008, hedge fund manager Bill Ackman disclosed a 25% ownership stake in the company.[15] In 2009, the company missed a deadline to repay $900 million in loans backed by two Las Vegas properties, putting the company in danger of filing for bankruptcy protection. At that point, the stock price was down 98% in 12 months.[16] The Bucksbaum family's stake in the firm, which was worth $2.5 billion in 2005,[10] had declined in value by a similar amount.[11] On April 16, 2009, the company filed one of the largest real estate bankruptcies ever and received $375 million in debtor-in-possession financing from Pershing Square Capital Management, the hedge fund managed by Bill Ackman.[17] In February 2010, Brookfield Asset Management made a $2.625 billion equity investment in the company.[18][19] In November 2010, the company exited bankruptcy protection. Creditors were paid in full and equity holders made a "substantial" recovery of their investment, both of which are unusual in bankruptcy filings.[20] In conjunction with the reorganization, the company spun off Howard Hughes Corporation to its shareholders.[21] In December 2010, CEO Adam Metz and President and COO Thomas Nolan left the company and Sandeep Mathrani, formerly the head of the retail division of Vornado Realty Trust, was named CEO.[22] In 2011, the company sold Faneuil Hall for $140 million.[23] In January 2012, the company completed the spin off of The Rouse Company to its shareholders.[21] In 2013, co-founder Matthew Bucksbaum died.[2] In February 2014, Bill Ackman sold his remaining shares in the company back to the company for $556 million.[24] In April 2015, the company acquired the Crown Building for $1.78 billion.[25] In January 2017, the company changed its name to GGP Inc.[26] History of RouseRouse Properties was formed in 2011 as a corporate spin-off of General Growth Properties.[27] On January 13, 2012, the company became a public company.[28] In February 2012, the company acquired Grand Traverse Mall for $66 million.[29] In January 2013, the company acquired The Mall at Turtle Creek in Jonesboro, Arkansas for $96 million.[30] In May 2014, the company began a $40 million renovation of NewPark Mall in Newark, California.[31] In March 2015, the company defaulted a loan secured by Vista Ridge Mall in Lewisville, Texas.[32] In November 2015, the company acquired The Shoppes at Carlsbad in Carlsbad, California.[33] On July 6, 2016, the company was acquired by Brookfield Asset Management.[34] Acquisition of General Growth by BrookfieldOn August 28, 2018, Brookfield Property Partners acquired GGP for $9 billion in cash as well as units in the new company, Brookfield Property REIT. The transaction reunited the malls spun off in the Rouse Properties spinoff with the GGP malls.[35] Upon closing the acquisition, Brookfield immediately sold a 49% interest in each of three former GGP super-regional malls to CBRE Group, and a 49% interest in three other former GGP malls to TIAA subsidiary Nuveen, seeking additional joint ventures for its newly-acquired malls.[36] List of propertiesThe following is a list of properties owned by the company:[37] {{Div col|rules=yes|gap=2em|colwidth=15em}}
References1. ^{{cite news |last1=Strom |first1=Stephanie | title=Martin Bucksbaum, 74, Pioneer In Shopping Center Development | url=https://www.nytimes.com/1995/07/10/obituaries/martin-bucksbaum-74-pioneer-in-shopping-center-development.html | work=The New York Times |date=July 10, 1995}} 2. ^1 2 3 4 {{cite news | url=http://articles.chicagotribune.com/2013-11-29/news/ct-obit-matthew-bucksbaum-met-20131129_1_shopping-malls-john-bucksbaum-martin-bucksbaum | title=Matthew Bucksbaum, 1926-2013 | first=Bob | last=Goldsborough | publisher=Chicago Tribune | date=November 29, 2013}} 3. ^1 {{cite news | url=https://www.nytimes.com/1995/07/10/obituaries/martin-bucksbaum-74-pioneer-in-shopping-center-development.html | title=Obituaries: Martin Bucksbaum, 74, Pioneer In Shopping Center Development | first=Stephanie | last=Strom | work=The New York Times | date=July 10, 1995}} 4. ^{{cite news | url=https://www.icsc.org/sct/newswire/matthew-bucksbaum-87-pioneer-and-philanthropist | title=Matthew Bucksbaum, 87, pioneer and philanthropist | publisher=International Council of Shopping Centers | date=November 26, 2013}} 5. ^{{cite news | url=https://www.nytimes.com/1989/09/30/business/company-news-shopping-center-groups-combine.html | title=Shopping Center Groups Combine | work=Associated Press | publisher=The New York Times | date=September 30, 1989}} 6. ^1 {{cite news | url=http://www.nreionline.com/mag/general-growth-lives-its-name-and-then-some | title=General Growth lives up to its name and then some | first=Ben | last=Johnson | work=National Real Estate Investor | date=January 1, 1996}} 7. ^{{cite news | url=https://www.nytimes.com/1993/11/04/business/company-news-prudential-will-sell-centermark.html | title=Prudential Will Sell Centermark | first=JOSHUA | last=MILLS | publisher=The New York Times | date=November 4, 1993}} 8. ^{{cite news | url=http://www.upi.com/Archives/1993/11/03/Investors-to-buy-Prudentials-shopping-malls-for-1-billion/6277752302800/ | title=Investors to buy Prudential's shopping malls for $1 billion | publisher=United Press International | date=November 3, 1993}} 9. ^{{cite news | url=https://www.nytimes.com/1995/12/27/business/sears-completes-sale-of-its-homart-unit.html | title=Sears Completes Sale of Its Homart Unit | work=Reuters | publisher=The New York Times | date=December 27, 1995}} 10. ^1 {{cite news | url=http://www.chicagobusiness.com/article/20051015/ISSUE02/100024651/bucksbaum | title=Bucksbaum | first=H. Lee | last=Murphy | publisher=Crain Communications | date=October 15, 2005}} 11. ^1 2 {{cite news | url=https://www.reuters.com/article/generalgrowth-idUSN2750460520081028 | title=General Growth founder's son steps aside as CEO | publisher=Reuters | date=October 27, 2008}} 12. ^{{cite web | url=http://www.chicagoarchitecture.info/Building/1247/General_Growth_Building.php |title=General Growth Building, Chicago | website=Chicago Architecture Info}} 13. ^{{cite press release | url=http://www.businesswire.com/news/home/20041112005572/en/General-Growth-Properties-Completes-Merger-Rouse-Company | title=General Growth Properties, Inc. Completes Merger of the Rouse Company | publisher=Business Wire | date=November 12, 2004}} 14. ^{{cite news | url=https://www.nytimes.com/2004/08/21/business/reshaping-reshaper-landscapes-rouse-company-be-acquired-owner-shopping-centers.html | title=Reshaping a Reshaper of Landscapes; Rouse Company to Be Acquired By Owner of Shopping Centers | first=TERRY | last=PRISTIN | publisher=The New York Times | date=August 21, 2004}} 15. ^{{cite news | url=https://dealbook.nytimes.com/2008/12/10/ackman-raises-stake-in-general-growth/ | title=Ackman Raises Stake in General Growth | publisher=The New York Times | date=December 10, 2008}} 16. ^{{cite news | url=http://articles.baltimoresun.com/2009-02-13/business/0902120087_1_shopping-mall-growth-properties-general-growth | title=General Growth misses payments | work=Bloomberg News | publisher=Baltimore Sun | date=February 13, 2009}} 17. ^{{cite news | url=https://dealbook.nytimes.com/2009/04/16/general-growth-properties-files-for-bankruptcy/ | title=General Growth Properties Files for Bankruptcy | first=MICHAEL J. | last=DE LA MERCED | publisher=The New York Times | date=April 16, 2009}} 18. ^{{cite press release | url=http://www.businesswire.com/news/home/20100224006465/en/General-Growth-Properties-Announces-2.625-Billion-Proposed | title=General Growth Properties Announces $2.625 Billion Proposed Equity Commitment from Brookfield Asset Management | publisher=Business Wire | date=February 24, 2010}} 19. ^{{cite news | url=https://www.bizjournals.com/baltimore/stories/2010/02/22/daily33.html | title=General Growth nabs $2.6B from Brookfield Asset to emerge from bankruptcy | first=Scott | last=Graham | publisher=American City Business Journals | date=February 24, 2010}} 20. ^{{cite news | url=https://www.reuters.com/article/generalgrowth-bankruptcy-exit-idUKN0912321920101110 | title=U.S. mall operator General Growth exits bankruptcy | first1=Tom | last1=Hals | first2=Jonathan | last2=Stempel | publisher=Reuters | date=November 9, 2010}} 21. ^1 {{cite press release | url=http://www.businesswire.com/news/home/20101109007829/en/General-Growth-Properties-Completes-Spinoff-Howard-Hughes | title=General Growth Properties Completes Spinoff of The Howard Hughes Corporation | publisher=Business Wire | date=November 9, 2010 }} 22. ^{{cite news | url=https://www.reuters.com/article/generalgrowth-idUSN1714224620101217 | title=General Growth CEO, president leave Dec. 22-sources | first=Ilaina | last=Jonas | publisher=Reuters | date=December 17, 2010}} 23. ^{{cite press release | url=http://www.prnewswire.com/news-releases/ggp-sells-faneuil-hall-marketplace-for-140-million-131855088.html | title=GGP Sells Faneuil Hall Marketplace for $140 Million | publisher=PRNewswire | date=October 14, 2011}} 24. ^{{cite news | url=http://www.chicagobusiness.com/realestate/20140213/CRED03/140219851/general-growth-returns-not-enough-for-ackmans-requirements | title=General Growth returns not enough for Ackman's requirements | work=Bloomberg L.P. | publisher=Crain Communications | date=February 13, 2014}} 25. ^{{cite news | url=https://www.law360.com/articles/646223 | title=General Growth Pays $1.8B For New York's Crown Building | first=Andrew | last=McIntyre | publisher=Law360 | date=April 21, 2015}} 26. ^{{cite press release | url=http://www.businesswire.com/news/home/20170117006513/en/General-Growth-Properties-Announces-Corporate-Change-GGP | title=General Growth Properties Announces Corporate Name Change to GGP | publisher=Business Wire | date=January 17, 2017}} 27. ^{{cite press release | url=https://www.prnewswire.com/news-releases/general-growth-properties-approves-spin-off-of-rouse-properties-and-announces-final-capital-structure-135915068.html | title=General Growth Properties Approves Spin-off of Rouse Properties and Announces Final Capital Structure | publisher=PR Newswire | date=December 20, 2011}} 28. ^{{cite press release | url=https://www.prnewswire.com/news-releases/rouse-properties-inc-debuts-as-publicly-traded-regional-mall-reit-137205083.html | title=Rouse Properties, Inc. Debuts as Publicly Traded Regional Mall REIT | publisher=PR Newswire | date=January 12, 2012}} 29. ^{{cite news | url=https://www.mlive.com/business/west-michigan/index.ssf/2012/02/general_growth_properties_spin.html | title=General Growth Properties' spin-off company buys Grand Traverse Mall for $66 million | first=Shandra | last=Martinez | work=Advance Publications | date=February 27, 2012}} 30. ^{{cite news | url=https://www.mlive.com/business/west-michigan/index.ssf/2012/02/general_growth_properties_spin.html | title=General Growth Properties' spin-off company buys Grand Traverse Mall for $66 million | first=Shandra | last=Martinez | work=Advance Publications | date=February 27, 2012}} 31. ^{{cite news | url=https://katv.com/archive/jonesboros-turtle-creek-mall-sells-for-96m | title=Jonesboro's Turtle Creek Mall sells for $96M | agency=Associated Press | date=January 3, 2013}} 32. ^{{cite news | url=https://www.bizjournals.com/dallas/news/2015/03/18/vista-ridge-mall-owner-looks-to-walk-away-and-list.html | title=Vista Ridge Mall owner looks to walk away and list it for foreclosure | first=Candace | last=Carlisle | work=American City Business Journals | date=March 18, 2015}} 33. ^{{cite news | url=http://www.sandiegouniontribune.com/business/real-estate/sdut-westfield-carlsbad-sold-rouse-2015nov12-story.html | title=Westfield Carlsbad purchased for $170 million | first=Phillip | last=Molnar | work=San Diego Union Tribune | date=November 12, 2015}} 34. ^{{cite press release | url=https://www.businesswire.com/news/home/20160706005975/en/Brookfield-Completes-Acquisition-Rouse-Properties | title=Brookfield Completes Acquisition of Rouse Properties, Inc. | publisher=Business Wire | date=July 6, 2016}} 35. ^{{cite press release | url=https://globenewswire.com/news-release/2018/08/28/1557660/0/en/Brookfield-Property-Partners-L-P-Completes-Acquisition-of-GGP-Inc.html | title=Brookfield Property Partners L.P. Completes Acquisition of GGP Inc. | publisher=GlobeNewswire | date=August 28, 2018}} 36. ^{{cite news | url=http://rew-online.com/brookfield-sells-shares-three-mall-properties/|title=Brookfield sells shares in three more mall properties | last=Campbell | first=Kyle | work=Real Estate Weekly | date=29 August 2018 | accessdate=1 September 2018}} 37. ^{{cite web|url=https://www.brookfieldpropertiesretail.com/properties.html|title=Retail Real Estate Malls & Properties|publisher=Brookfield Properties Retail Group|accessdate=October 4, 2018}} External links
9 : 1954 establishments in Iowa|American companies established in 1954|Brookfield Properties Retail Group|Bucksbaum family|Companies based in Chicago|Real estate companies established in 1954|Companies that filed for Chapter 11 bankruptcy in 2009|Shopping property management firms|Real estate investment trusts of the United States |
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