Source: Brookfield Residential Properties Inc.
CALGARY, Alberta, March 08, 2018 (GLOBE NEWSWIRE) -- Brookfield Residential Properties Inc. and Brookfield Residential US Corporation (collectively, “Brookfield Residential” or the “Company”) today announced that the Company has finalized a new North American unsecured revolving credit facility, to allow borrowings in an aggregate amount of up to $675 million. The unsecured facility, which closed today and matures in March 2021, eliminated the Company’s existing C$505 million secured Canadian bank facilities and replaced the $275 million revolving U.S. credit facility, which was scheduled to mature in August 2018.
Brookfield Residential Properties Inc. is a leading land developer and homebuilder in North America. We entitle and develop land to create master-planned communities, build and sell lots to third-party builders, and conduct our own homebuilding operations. We also participate in select, strategic real estate opportunities, including infill projects, mixed-use developments, and joint ventures. We are the flagship North American residential property company of Brookfield Asset Management, a leading global alternative asset manager with approximately $285 billion of assets under management. Further information is available at BrookfieldResidential.com or Brookfield.com or contact: