The story
In 2011, General Growth Properties announced that it would spin off a portfolio of 30 underperforming, "Class-B" shopping malls as a new company named Rouse Properties. The name was taken from The Rouse Company, which GGP had acquired in 2004. However, Rouse Properties is not a direct successor to The Rouse Company, as Rouse Properties acquired 30 underperforming, "Class-B" properties at its foundation. The portfolio comprised most of GGP's Class B shopping centers (malls located in smaller cities, and second-tier malls in larger cities), allowing GGP to focus on its higher-performing properties. The spin-off was completed on January 12, 2012.
In February 2012, the company acquired Grand Traverse Mall for $66 million.
In January 2013, the company acquired The Mall at Turtle Creek in Jonesboro, Arkansas for $96 million.
In May 2014, the company began a $40 million renovation of NewPark Mall in Newark, California.
In March 2015, the company defaulted a loan secured by Vista Ridge Mall in Lewisville, Texas.
In November 2015, the company acquired The Shoppes at Carlsbad in Carlsbad, California.
In 2016, Brookfield Asset Management, which owned 33% of Rouse Properties, made an unsolicited offer to purchase the rest of the company. A purchase agreement was eventually reached, valuing the company at $2.8 billion. Brookfield's acquisition of Rouse Properties was completed on July 6, 2016.
In 2018, Brookfield also acquired GGP. Ultimately, the Rouse Properties brand was absorbed into Brookfield Properties, and GGP was rebranded as Brookfield Properties Retail Group until January 2026 when Brookfield Corporation rebranded it back to the GGP name.
From Wikipedia’s article on Rouse Properties, shared under CC BY-SA 4.0.6