Brookfield Residential

Brookfield Residential Properties Inc. is a land developer and homebuilder in North America.[4] The company entitles and develops land to create master planned communities, and builds and sells lots to third-party developers and to their own home building division.[5] The company also participates in select, strategic real estate opportunities including infill projects, mixed use developments, and joint ventures.[5] In February 2018 it acquired some of the assets of San Diego-based real estate company OliverMcMillan, a developer of large-scale mixed use properties.[6] Total assets as of June 30, 2018 were $4.5 billion.[7]

Brookfield Residential Properties
Private
IndustryReal estate development
Construction
FoundedMarch 31, 2011 (2011-03-31)
Headquarters
Calgary, Alberta
,
Canada
Key people
Alan Norris
(President & CEO)
Total assets$4.5 billion[1]
Total equity$1.6 billion[2]
Number of employees
950 (2013)[3]
ParentBrookfield Asset Management
Websitewww.brookfieldresidential.com

History

Brookfield Residential was founded in 1956.

Brookfield Residential Properties Inc. was formed on March 31, 2011, upon the completion of a merger that combines Brookfield Homes|Brookfield Homes Corporation with the residential group of Brookfield Office Properties consisting of Carma Developers and Brookfield Homes|Brookfield Homes (Ontario) Limited.[8]

In March 2015, Brookfield Residential Properties announces the acquisition of Grand Haven Homes, an Austin, Texas homebuilder. [9]

Contributions from Brookfield Residential Properties, other home builders, and the Government of Alberta leads to new affordable housing for homeless Calgarians in 2015. [10]

On March 13, 2015, Brookfield Asset Management and Brookfield Residential Properties Inc. announced the closing of the going private transaction of Brookfield Residential as a result of the 32.4 million common shares of Brookfield Residential acquired by Brookfield Asset Management.[5]

In October 2015, Brookfield Residential purchases luxury builder Albi Homes. [11]

In 2017 Brookfield Residential Properties constructs a Passive house as a pilot project to educate its trade suppliers on construction methods to meet Passive House Institute standards. [12]

In 2018, Brookfield Residential Properties acquires some of the assets of San Diego-based real estate company OliverMcMillan, a developer of large-scale mixed use properties.[13]

Brookfield Residential Properties was awarded the 2018 Lowest HERS Index Score Canadian Production Builder with a HERS Index Score of 38 as part of the 2018 RESNET Cross Border Home Builder Challenge, which helps promote the utilization of the HERS Index.[14]

On September 14, 2018, Calgary’s Seton YMCA was renamed Brookfield Residential YMCA at Seton after a 3.5M investment[15]

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References
  1. Brookfield Residential 2018 Q2 Interim Report
  2. Brookfield Residential 2018 2014 Annual Report
  3. Brookfield Residential 2018 2013 Annual Report
  4. Myke Thomas (April 4, 2011). "Merger makes Brookfield a real estate titan". Calgary Sun. Retrieved April 4, 2012.
  5. "Brookfield Asset Management Closes Going Private Transaction of Brookfield Residential" (Press release). GlobeNewswire. March 13, 2015.
  6. Brookfield Residential Acquires Developer Oliver McMillan, including “Certain Assets”, John Nelson, Shopping Centre Business (The Latest News) Feb 8, 2018
  7. Brookfield Residential 2018 Q2 Interim Report
  8. , Brookfield Residential and Brookfield Homes report completion of merger and contribution. Calgary and Fairfax, 31 March, 2011.
  9. , Brookfield Residential acquires Grand Haven Homes in Central Texas, 2 March, 2015.
  10. "Collaboration leads to new affordable housing for homeless Calgarians" (Press release). GlobeNewswire. June 9, 2015.
  11. , Brookfield Residential acquires luxury builder Albi Homes. Skapin, Josh, Calgary Herald, 16 October, 2015.
  12. , Passive House in a Box, Crowther, Sharon, The Globe and Mail, 7 September, 2017.
  13. , Brookfield Residential Properties acquires some of the assets of San Diego-based real estate company OliverMcMillan. Nelson, John, Shopping Centre Business (The Latest News) 8 Feb, 2018.
  14. , Brookfield Residential wins award at 2018 RESNET Cross Border Home Builder Challenge. 27 March, 2018.
  15. Rumbolt, Ryan. , Calgary’s Seton YMCA renamed Brookfield Residential YMCA at Seton after 3.5M investment. Calgary, 14 September 2018.
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