Briefs: Brookfield-Rouse; MetLife-MassMutual

Brookfield Asset Management to Acquire Rouse Properties

Brookfield Asset Management, New York, agreed to acquire real estate investment trust Rouse Properties, New York, for $18.25 per share in an all-cash transaction valued at $2.8 billion.

Brookfield will acquire all Rouse outstanding common stock shares other than those shares currently held by Brookfield Property Partners L.P. The purchase price represents a 35 percent premium over Rouse’s stock price on January 15, just before Brookfield announced its proposal to acquire Rouse.

The firms expect to complete the transaction in the third quarter.

Freddie Mac Senior Housing Volume Reaches $2.5B
Freddie Mac’s senior housing loan volume reached $2.5 billion last year, more than double 2014’s level.

The government-sponsored enterprise has securitized or will soon securitize most of the 168 senior housing loans it made last year. Freddie Mac entered the senior housing market in 1998 and started securitizing senior housing loans in 2013. It has deployed more than $14.6 billion to support senior housing properties.

The need for quality affordable senior housing will grow as the U.S. population ages, said Freddie Mac National Senior Housing Director Steven Schmidt. Analysts predict the 75-plus population will grow by 22.6 percent between 2021 and 2025–nearly six times the projected growth of the U.S. population.