NEW YORK, Jan. 12, 2012 /PRNewswire/ -- Today, Rouse
Properties, Inc. (NYSE: RSE) (Rouse) becomes an independent
regional mall company that will formally commence "regular way"
trading under the symbol RSE when the New York Stock
Exchange opens January 13, 2012.
Rouse is a publicly traded real estate investment trust (REIT)
focused on the management, redevelopment, repositioning and
acquisition of Class B regional malls. Initially, the Rouse
portfolio consists of 30 geographically diverse enclosed
malls, encompassing more than 21 million square feet in 19
states.
"The formation of a new REIT solely focused on Class B regional
malls is a unique opportunity and Rouse is well positioned to not
only achieve success, but continue building on its platform over
time to further strengthen its market position," said Andrew Silberfein, president and CEO of Rouse.
"Rouse has the scale, capital and talent, as well as the
flexibility and creativity to innovate and deliver the quality that
Rouse is committed to achieving. This is an exciting day for Rouse
and for our entire team of outstanding professionals."
Executives with Rouse Properties, Inc. rang The Closing Bell® of
the New York Stock Exchange today to commemorate the company's
entry on the NYSE.
General Growth Properties, Inc. (NYSE: GGP) completed the
spin-off of Rouse through the distribution of shares of Rouse
common stock to holders of GGP common stock. Under the terms of the
spin-off, GGP stockholders received approximately 0.0375 shares of
Rouse common stock for every share of GGP common stock owned as of
the record date of December 30, 2011.
Rouse is being advised on the spin-off by Wells Fargo
Securities/Eastdil Secured, RBC Capital Markets, Deutsche Bank
Securities Inc. and Goldman, Sachs & Co.
All information previously made public about Rouse can be found
at rouseproperties.com.
About Rouse Properties, Inc.
Rouse Properties is a publicly traded real estate investment
trust headquartered in New York
City and founded on a legacy of innovation and creativity.
Among the country's largest publicly traded regional mall owners,
the company's geographically diverse portfolio spans the United States from coast to coast, and
includes 30 malls in 19 states encompassing approximately 21
million square feet of space. For more information, visit
rouseproperties.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of federal securities laws, including statements
regarding expectations that are not historical facts. Rouse
cautions that these statements are not guarantees of future
performance and are subject to numerous risks and uncertainties,
including changes in market conditions, unanticipated developments,
competitive conditions, and other risk factors that Rouse
identifies in its Form 10 registration statement and other filings
that it makes with the Securities and Exchange Commission from time
to time. Any of these factors could cause actual results to
differ materially from the expectations expressed or implied in
this press release. Rouse undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
Media Contact: Rebecca
Stenholm, 212.608.5108
SOURCE General Growth Properties, Inc.; Rouse Properties,
Inc.