Brookfield bets malls have a future with $15B GGP deal

BROOKFIELD ASSET Management Inc. is paying about $15 billion t for GGP Inc.,the owner of the Providence Place mall. / PBN FILE PHOTO/ELI SHERMAN
BROOKFIELD ASSET Management Inc. is paying about $15 billion t for GGP Inc.,the owner of the Providence Place mall. / PBN FILE PHOTO/ELI SHERMAN
NEW YORK - Brookfield Asset Management Inc. is betting against the retail apocalypse with its takeover of GGP Inc., the owner of the Providence Place mall, slated to close Tuesday. The Toronto-based firm is paying about $15 billion for the second-largest mall owner in the United States as investors - and shoppers - shun brick-and-mortar retail.…
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