How it started
History
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.
From Wikipedia’s article on Rouse Properties, shared under CC BY-SA 4.0.3