Rouse Properties

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. The name was taken from the Rouse Company, which GGP had acquired in 2004. 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. The spin-off was completed on January 12, 2012.

In February 2012, the company acquired Grand Traverse Mall for $66 million.

In January 2013, the company acquired The Mall at Turtle Creek in Jonesboro, Arkansas for $96 million.

In May 2014, the company began a $40 million renovation of NewPark Mall in Newark, California.

In March 2015, the company defaulted a loan secured by Vista Ridge Mall in Lewisville, Texas.

In November 2015, the company acquired The Shoppes at Carlsbad in Carlsbad, California.

In 2016, Brookfield Asset Management, which owned 33 percent of Rouse Properties, made an unsolicited offer to purchase the rest of the company. A purchase agreement was eventually reached, valuing the company at $2.8 billion. Brookfield's acquisition of Rouse Properties was completed on July 6, 2016.

In 2018, Brookfield also acquired GGP. Ultimately the Rouse Properties brand was absorbed into Brookfield Properties.

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
* 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
* 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

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2011 establishments in New York (state)
2016 mergers and acquisitions
Companies established in 2011
Defunct real estate companies of the United States
Rouse family