Brookfield Residential Properties Inc. today announced they have acquired the assets of national mixed-use developer OliverMcMillan.

Joining forces with Brookfield Residential, OliverMcMillan will continue to design and build leading-edge mixed-use developments in some of the most vibrant urban centers in the United States.

“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,” said Adrian Foley, President & COO, Brookfield Residential.

“This strategic acquisition supports our belief that the increased focus on urban intensification taking place in many of our North American markets, alongside some of the disruptions in the retail sector, will create a significant pipeline of redevelopment opportunities over the next few years. The acquisition of OliverMcMillan provides us with the investment in some incredible mixed-use development opportunities and the skillsets to supplement our existing talented group at Brookfield Residential.  We see the role of developing place-making retail, office and residential product as a key attribute to creating great places to call home. OliverMcMillan will help us execute that vision.”

As the flagship North American residential property company of Brookfield Asset Management, Brookfield Residential has an enviable portfolio of high quality land and housing assets, a strong balance sheet, and an extensive pipeline of development opportunities. The addition of OliverMcMillan sets the company up to become a premier North American mixed-use developer. OliverMcMillan’s existing real estate assets will continue to be managed by OliverMcMillan.

OliverMcMillan acquires, designs, develops, manages and leases mixed-use and stand-alone real estate properties in major metropolitan growth markets across the United States and Canada. Investments begin with ground-up assets which are transformed into retail, entertainment, dining, office, medical, residential and hotel environments. OliverMcMillan prides itself as a forward-thinking, visionary developer, ‘Making Special Places Happen’ by creating customized artistic solutions for complex regional projects that serve as a catalyst for economic revitalization and growth in the communities they serve.

“Brookfield Residential is the perfect partner for us to continue the legacy of what we’ve done best for over 40 years – creating special places across the United States and Canada,” said Dene Oliver, CEO OliverMcMillan. “Our progressive values, culture and goals are very much aligned and we are extremely excited to become part of their organization.  We simply could not have found a better long term home.”