Tag Archives: Brookfield Asset Management

No Weyerhauser Out? Company Near Deal To Spin WRECO To Tri Pointe Homes In Reverse Morris Trust

By |
0 Comment

Earlier this summer, Weyerhauser (WY) announced that it was exploring ‘strategic alternatives’ for Weyerhauser Real Estate Company (WRECO), its homebuilder unit. Those options included including ‘continuing to hold and operate WRECO, or a merger, sale or spin-off of the business.’ The unit ranks in the Top 20 homebuilders and sold 1,099 homes in H1 2013. The exploration of strategic… Read More »

End Of An Era: Ackman Agrees To Go Passive In General Growth Properties

By |
0 Comment

I was first introduced to General Growth Partners (GGP) several years ago at a small alumni gathering featuring  Pershing Square’s Bill Ackman as the keynote speaker. Amongst other topics, he spoke about the then bankrupt (trading at <$1) company as his ‘top’ idea at the time. This ‘idea’ turned out to be quite profitable for him as he… Read More »

BAM! Here Comes Another Real Estate Spin

By |
1 Comment

No, Emeril is not in the kitchen, but BAM (Brookfield Asset Management) is certainly spicing things up with the spinoff of its commercial real estate holdings. The new company, Brookfield Property Partners, is expected to include almost all of BAM’s commercial properties including its stakes in Brookfield Office Properties, General Growth Properties [GGP] (and related spins) and the… Read More »

Rouse Announces Record Date For Rights Offering

By |
3 Comments

Rouse Properties(RSE) had announced it intended to do a rights offering after its spinoff from General Growth Properties(GGP) was complete. This afternoon, Rouse announced that the offering will be set for the close of business on February 13.  Each Right will allow the holder to purchase 0.375094056 shares of stock at a price per share of $15, as… Read More »

With Spinoff From General Growth Properties Complete, Rouse Is Ready To Awaken

By |
2 Comments

General Growth Properties (GGP) is an unusual story, delivering profits to pre-bankruptcy shareholders and featuring several investing luminaries among its shareholders.  It has now completed its second spinoff in a little more than a year, as Rouse Properties (RSE) begins trading regular way tomorrow. Rouse completes trading on a when-issued basis at $11.30. Rouse, which we previously wrote… Read More »

General Growth Properties Rouses Rouse From Its Slumber

By |
1 Comment

On the heels of last year’s spinoff of Howard Hughes Corp(HHC) which we wrote about here and here, General Growth Properties(GGP) approved plans today to spin off Rouse Properties on January 12, 2012 to shareholders as of December 30, 2011. The spinoff, which will be treated as a taxable dividend, is expected to trade as a REIT under… Read More »