Brookfield Residential

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][12]

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.[13]

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.[14] 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.[15]

On September 14, 2018, Calgary's Seton YMCA was renamed Brookfield Residential YMCA at Seton after a $3.5 million investment[16] 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.[17][18]