Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Brookfield Acquires Playa Capital; Partners With A U.S Pension Fund

RELATED NEWS
Trade BRP now with 

Brookfield Residential Properties Inc. (BRP: Quote), Tuesday announced the acquisition of California-based Playa Capital Company, which includes approximately 2,250 units on more than 65 acres of land at Playa Vista. The financial terms of the deal were not disclosed.

The company also said it was partnering with California State Teachers' Retirement System to develop the Bearspaw lands which includes over 2,500 lots in the northwest quadrant of Calgary.

Commenting on the development, Alan Norris, President and CEO said, " The opportunities to finalize the development of Playa Vista, one of the last coastal master-planned communities in California and to expand our relationship with CalSTRS to develop the Bearspaw lands in Alberta are very exciting initiatives for Brookfield Residential. Both projects enhance our market position in the respective markets as a leading land developer and homebuilder."

Click here to receive FREE breaking news email alerts for Brookfield Residential Properties Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.