Who owns ggp

These metrics show that Brookfield's shopping centers are still quite healthy and are continuing to experience rental revenue growth. Brookfield's healthy metrics can largely be explained by the types of malls it operates. The company focuses on luxury malls , which are generally located in dense urban areas with high foot traffic and in close proximity to high-income households. Luxury malls have outperformed suburban malls because sales per square foot have continued to grow, attracting tenants willing to pay higher rents.

The acquisition of GGP may not have been perfectly timed in the sense that the retail industry continues to endure pain from vacating retailer tenants. But Brookfield's malls have shown an ability to weather the storm and post solid business metrics. Brookfield's acquisition of GGP was certainly bold, but only time will tell if it will be lucrative. So far the stock is down, although its business metrics have held up.

The company's strategy of focusing on the best-in-class luxury malls looks smart, but that hasn't made it totally immune to pressures from the broader retail industry. The market is clearly anticipating that the troubles faced by suburban malls will eventually hinder luxury malls. However, if the contagion in retail doesn't spread, opportunistically buying Brookfield Property REIT's stock here could be a good bet on a strong player in a recovering industry. Discounted offers are only available to new members.

Stock Advisor will renew at the then current list price. Average returns of all recommendations since inception. Cost basis and return based on previous market day close. Investing Best Accounts. Stock Market Basics. Brookfield already owns roughly one third of GGP, which is one of the largest mall owners in the country behind Simon Property Group.

Shares of GGP jumped more than 5 percent in after-hours trade following the news, while Brookfield's stock ticked lower. The bid was deemed inadequate by an independent board at the time, and the two companies went back to the drawing table. Earlier this month, Brookfield reportedly submitted a new offer to take over GGP, hoping to create one of the world's largest publicly traded property companies. Shares of other shopping mall landlords fell Tuesday, with Simon Property Group closing down 1.

Brookfield plans to convert floors 8 through 14 to offices. Twitter laurenzumbach. Skip to content. The urban mall is owned by GGP. The real estate investment trust may be acquired by Brookfield Property Partners. Latest Business. Most Read.