BAM - How Brookfield's Acquisition of GGP Looks One Year Later
Brookfield Property REIT (NASDAQ: BPR) is a real estate investment trust (REIT) focused on owning and operating best-in-class retail shopping centers. One year ago the company completed its acquisition of General Growth Properties (GGP), a REIT focusing on master planned communities and retail, for a cool $27.5 billion. This acquisition was bold for reasons beyond its large size. The shopping center industry has gone through a tough time in recent years due to competition from e-commerce, which has led many retailers to close stores and has pushed a few into bankruptcy.
It took guts for Brookfield to make such a big bet on retail at this tumultuous time, but if Brookfield was able to get a good price, perhaps it will come out ahead.
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