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DEAL: Local Firm's Experience in High-Rise, Mixed-Use Spurred Move
San Diego-based developer OliverMcMillan has been acquired by Brookfield Residential Properties Inc. of Canada for an undisclosed amount of money.
OliverMcMillan will continue to operate out of its downtown San Diego offices as a division of Brookfield with founder Dene Oliver remaining as its CEO.
OliverMcMillan's staff of 120, with about 75 based in San Diego, will continue the work they've been doing.
"It really is pretty much business as usual as (much as) possible," said Krista Ellingson, Brookfield Residential spokesperson. "It's quite a complementary match."
The deal has been in the making for the past year, Dene Oliver said.
Tapping McMillan's Specialty
Brookfield Residential specializes in low-rise residential construction and was looking to expand into developing mixed-use, high-rise projects, which is OliverMcMillan's specialty.
"It was kind of a natural marriage. They love what we do. They appreciate our culture. They spent about five months embedded in...