Brookfield Residential

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Brookfield Residential Properties Inc.
TypeSubsidiary
IndustryReal estate development
Construction
FoundedMarch 31, 2011; 10 years ago (2011-03-31)
Headquarters
Calgary, Alberta
,
Canada
Key people
Alan Norris
(Chairman & CEO)
Total assets$5.7 billion[1]
Total equity$1.6 billion[2]
Number of employees
950 (2013)[3]
ParentBrookfield Asset Management
WebsiteOfficial website

Brookfield Residential Properties Inc. is a Canadian real estate developer that has its headquarters in Calgary, Alberta.[4] Total assets were $4.5 billion as of June 2018.[5]

History[]

Brookfield Residential was founded in 1956.

Brookfield Residential Properties Inc. was formed on March 31, 2011, upon the completion of a merger that combined Brookfield Homes|Brookfield Homes Corporation with the residential group of Brookfield Office Properties consisting of Carma Developers and Brookfield Homes|Brookfield Homes (Ontario) Limited.[6]

In March 2015, Brookfield Residential Properties announced the acquisition of Grand Haven Homes, an Austin, Texas homebuilder. [7]

Contributions from Brookfield Residential Properties, other home builders, and the Government of Alberta lead to new affordable housing for homeless Calgarians in 2015. [8]

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.[9]

In October 2015, Brookfield Residential purchased luxury builder Albi Homes. [10]

In 2017, Brookfield Residential Properties constructed a Passive house as a pilot project to educate its trade suppliers on construction methods to meet Passive House Institute standards. [11]

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.[12]

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.[13]

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

References[]

  1. ^ Toronto Star[1]
  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 Residential 2018 Q2 Interim Report
  6. ^ [2], Brookfield Residential and Brookfield Homes report completion of merger and contribution. Calgary and Fairfax, 31 March, 2011.
  7. ^ [3], Brookfield Residential acquires Grand Haven Homes in Central Texas, 2 March, 2015.
  8. ^ "Collaboration leads to new affordable housing for homeless Calgarians" (Press release). GlobeNewswire. June 9, 2015.
  9. ^ "Brookfield Asset Management Closes Going Private Transaction of Brookfield Residential" (Press release). GlobeNewswire. March 13, 2015.
  10. ^ [4], Brookfield Residential acquires luxury builder Albi Homes. Skapin, Josh, Calgary Herald, 16 October, 2015.
  11. ^ [5], Passive House in a Box, Crowther, Sharon, The Globe and Mail, 7 September, 2017.
  12. ^ Brookfield Residential Acquires Developer OliverMcMillan, John Nelson, Shopping Centre Business (The Latest News), Feb. 8, 2018.
  13. ^ [6], Brookfield Residential wins award at 2018 RESNET Cross Border Home Builder Challenge. 27 March, 2018.
  14. ^ Rumbolt, Ryan. [7], Calgary’s Seton YMCA renamed Brookfield Residential YMCA at Seton after 3.5M investment. Calgary, 14 September 2018.
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