Brookfield Asset Management closes going private transaction of Brookfield Residential

On March 13, 2015, Brookfield Asset Management Inc. (Brookfield Asset Management) and Brookfield Residential Properties Inc. (Brookfield Residential) announced the closing of the going private transaction of Brookfield Residential, pursuant to which 1927726 Ontario Inc., a wholly owned subsidiary of Brookfield Asset Management, acquired all of the issued and outstanding common shares of Brookfield Residential that Brookfield Asset Management and its affiliates did not already own by way of a plan of arrangement.

As a result of the 32.4 million common shares of Brookfield Residential acquired by Brookfield Asset Management pursuant to the arrangement, Brookfield Asset Management now owns 100% of the issued and outstanding common shares of Brookfield Residential. The remaining 2.4 million common shares of Brookfield Residential were purchased for cancellation by Brookfield Residential.

Brookfield Residential is a leading North American land developer and homebuilder with operations in eleven major markets.

Brookfield Asset Management is a global alternative asset manager with over C$200 billion in assets under management. The company has over a 100-year history of owning and operating assets with a focus on property, renewable energy, infrastructure and private equity.

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