February 8, 2018
Brookfield Residential acquired the assets of San Diego-based OliverMcMillan, a mixed-use developer with projects across the country. The addition is a shift for the Canadian-based residential land developer, as it looks to blend in a wider mix of uses into projects.
Brookfield Residential’s Adrian Foley says, “Our focus on our core operations remains a priority, but we see increasing our position in mixed-use development as a significant opportunity and reflects our view of some potential shifts in our residential portfolio.”
OliverMcMillan will continue to design and build leading-edge mixed-use developments in some of the most vibrant urban centers in the United States.
Brookfield’s Foley believes it is a “strategic acquisition” that is in line with a swing toward “urban intensification” in many markets, as well as “disruptions in the retail sector.” Those changes are expected to produce “a significant pipeline of redevelopment opportunities over the next few years,” notes Foley.
For comments, questions or concerns, please contact Dennis Kaiser
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