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Clockwise from top left: Brookfield’s Crossroads Center in Minnesota, Mall St. Matthews in Kentucky, Park Place Mall in Arizona and North Point Mall in Georgia. (Credit: Crossroads Center, Mall St. Matthews, Park Place, North Point)
It was a gamble when Brookfield Property Partners paid over $9 billion in cash for GGP’s 125-mall portfolio, but the company had a plan. Shortly after the deal closed in August 2018, Brookfield said it would “future proof” most of those malls, turning moribund properties into mixed-use “mini cities” by adding residential and office space.
The future, it turns out, had other plans.