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Brookfield sells part of its GGP portfolio
- October 1, 2018: Vol. 30, Number 9

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Brookfield sells part of its GGP portfolio

by Loretta Clodfelter

Brookfield Property Partners has been finding investors for some of the retail properties it received in its acquisition of GGP, the second-largest owner of regional malls in the United States.

CBRE Global Investors acquired a stake in a 3.7 million-square-foot portfolio of class A super-regional malls through a joint venture with Brookfield Property Partners. The joint venture comprises three assets: Cumberland Mall, a 1 million-square-foot superregional mall in northwest Atlanta; Ridgedale Center, a 1.2 million-square-foot superregional mall in western Minneapolis; and The Parks Mall at Arlington, a 1.5 million-square-foot superregional mall between Dallas and Fort Worth.

“We believe that class A superregional malls remain one of the most attractive investments available today,” said David Morrison, CIO – Americas at CBRE Global Investors, in a statement. “These assets have a historic track record of material outperformance, dominating their retail catchment

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