Brookfield Residential Properties Inc. (BRP), 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."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.