Brookfield Residential Properties Inc.
TypeSubsidiary
IndustryReal estate development
Construction
FoundedMarch 31, 2011 (2011-03-31)
Headquarters,
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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