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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.