Brookfield Residential Properties Inc.
TypeSubsidiary
IndustryReal estate development
Construction
FoundedMarch 31, 2011 (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
Websitebrookfieldresidential.com

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.[6] Brookfield Residential Properties Inc. was formed on March 31, 2011, when Brookfield Homes Corporation ("Brookfield Homes") and Brookfield Office Properties (consisting of Carma Developers and Brookfield Homes (Ontario) Limited) merged.[7]

In 2015, Brookfield Asset Management purchased 32.4 million common shares of Brookfield Residential in a privatization effort.[8]

In March 2015, Brookfield Residential Properties announced the acquisition of Grand Haven Homes, an Austin, Texas homebuilder.[9] In October 2015, Brookfield Residential purchased builder Albi Homes.[10] That year Brookfield Residential Properties participated in an initiative with other home builders, and the Government of Alberta to create affordable housing for homeless Calgarians.[11]

In 2017, Brookfield Residential Properties constructed a passive house in an effort to educate its trade suppliers on construction methods to meet Passive House Institute standards.[12]

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.[13] 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.[14]

On September 14, 2018, Calgary's Seton YMCA was renamed Brookfield Residential YMCA at Seton after a 3.5M investment[15] In August 2020, Brookfield Residential became one of the first victims of the DarkSide hacking group, leading to the stolen data being published on the dark web.[16][17]

References

  1. ↑ Toronto Star
  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. ↑ "Brookfield Residential - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-06-15.
  7. ↑ , Brookfield Residential and Brookfield Homes report completion of merger and contribution. Calgary and Fairfax, 31 March 2011.
  8. ↑ "Brookfield Asset Management Closes Going Private Transaction of Brookfield Residential" (Press release). GlobeNewswire. March 13, 2015.
  9. ↑ , Brookfield Residential acquires Grand Haven Homes in Central Texas, 2 March 2015.
  10. ↑ , Brookfield Residential acquires luxury builder Albi Homes. Skapin, Josh, Calgary Herald, 16 October 2015.
  11. ↑ "Collaboration leads to new affordable housing for homeless Calgarians" (Press release). GlobeNewswire. June 9, 2015.
  12. ↑ , Passive House in a Box, Crowther, Sharon, The Globe and Mail, 7 September 2017.
  13. ↑ Brookfield Residential Acquires Developer OliverMcMillan, John Nelson, Shopping Centre Business (The Latest News), Feb. 8, 2018.
  14. ↑ , Brookfield Residential wins award at 2018 RESNET Cross Border Home Builder Challenge. 27 March 2018.
  15. ↑ Rumbolt, Ryan. , Calgary’s Seton YMCA renamed Brookfield Residential YMCA at Seton after 3.5M investment. Calgary, 14 September 2018.
  16. ↑ "DarkSide Ransomware hits North American real estate developer". BleepingComputer. Retrieved 20 June 2021.
  17. ↑ "Canadian real-estate company Brookfield Residential suffers data breach by new ransomware group DarkSide". thestar.com. 2020-08-25. Retrieved 20 June 2021.
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