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Brookfield Completes $2.8 Billion Rouse Properties Acquisition

Brookfield Takes Over 24 Million-SF Portfolio Encompassing 35 Malls and Shopping Centers In 21 States
July 6, 2016
An affiliate of Brookfield Asset Management, Inc. has closed its $2.8 billion cash acquisition of Rouse Properties Inc., a U.S. mall REIT.

Brookfield affiliate BSREP II Retail Pooling LLC closed the transactionafter agreeing to acquire Rouse and its 35 regional malls and 21 shopping centers in late February.

Under the terms of the transaction structured as a merger agreement, Brookfield will assume Rouse Properties' debt and Rouse shareholders will receive $18.25 per share in cash. Rouse and Brookfield-affiliated shareholders completed the exchange of 33.5% of Rouse's outstanding common stock for shares of its series I preferred stock. Rouse common stock will be delisted from the New York Stock Exchange.

Rouse's 35 properties totaling 23.8 million square feet spanning 21 states.

BofA Merrill Lynch acted as financial advisor to the special committee of the Company’s Board of Directors, and Sidley Austin LLP acted as the special committee’s legal advisor. Weil, Gotshal & Manges LLP acted as legal advisor to Brookfield.
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