Sikes Senter Mall Parent Company Sold
REIT Rouse Properties, the parent company of Sikes Senter Mall in Wichita Falls has a new owner.
Industry trade magazine Real Estate Weekly reports that Brookfield Asset Management has acquired Rouse in a merger deal approved by Rouse shareholders this past week. Brookfield first made a play for the mall management firm in January of this year. Brookfield is wholly owned by Brookfield Asset Management.
REW reports that Brookfield Property Partners already owns 33.5 percent of Rouse shares. The complete transaction, including the acquisition of Rouse debt, is valued at $2.8 billion.
The deal is unlikely to have any immediate impact on operations at Sikes Senter.
Sikes has recently seen a modest spike in occupancy, with At Home replacing Sears and the addition of Bricktown Brewery and the still under construction Red Robin.
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