Press Release November 12, 2010

Goodwin Procter Advises Brookfield in Close of $2 Billion GGP Investment

Goodwin Procter advised client Brookfield Asset Management in the successful closing of its cornerstone equity investment of over $2 billion in connection with General Growth Properties’ (GGP) emergence from Chapter 11 bankruptcy protection. GGP is one of the largest owners and operators of malls in the United States, with approximately 183 malls in 43 states.  Its bankruptcy was the largest real estate bankruptcy case in U.S. history.

Goodwin Procter represented Brookfield in connection with its investor consortium, which consisted of a number of non-U.S. and domestic institutions investing alongside Brookfield to acquire its equity stake of GGP. The firm’s advisory role encompassed numerous complex commercial, tax and securities issues.

John M. Ferguson, partner in Goodwin Procter’s Real Estate, REITs and Real Estate Capital Markets practice, led the transaction team with advising on tax issues and partners Ross D. Gillman and Martin Carmichael providing support relating to legal opinions.