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Chicago & Midwest  + Illinois  + Retail  | 

GGP Mall Portfolio Set for Brookfield Revitalization

Chicago-based GGP’s 125-property mall portfolio is set to undergo a transformation as a result of the $15-billion Brookfield Property Partners’ acquisition. Top-tier centers will be expanded, while less successful properties will be scaled back or reconfigured to include a mix of uses.

In an effort to breathe new life into assets, some malls could see new housing, office or hotel components added. While more time-intensive and considered riskier, Brookfield has both the financing resources and experience in completing similar major redevelopment strategies. It recently transformed properties within Rouse Properties Inc.’s portfolio, which it acquired in 2016.

The redevelopment strategy involves new partners that Brookfield brings in to defer some risk and add expertise or capital. Brookfield has sold roughly $4 billion in stakes to JV partners to help pay down acquisition debt. Another $2 billion in mall interests could be sold in the next few years to help further this revitalization strategy.

For comments, questions or concerns, please contact Dennis Kaiser
*Pictured Water Tower Place, Chicago

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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