Rouse Properties Announces Pricing of Common Stock Offering

NEW YORK--()--Rouse Properties, Inc. (NYSE:RSE) (the “Company” or “Rouse”) today announced the pricing of an underwritten public offering of 7,000,000 shares of its common stock at a public offering price of $19.50 per share, for net proceeds of approximately $130.5 million after deducting the underwriting discount and estimated offering expenses (or approximately $150.2 million if the underwriters’ option to purchase additional shares is exercised in full). The Company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock. All of the shares were offered by the Company and will be issued under the Company’s currently effective shelf registration statement filed with the Securities and Exchange Commission. Settlement of the offering is subject to customary closing conditions and is expected to occur on January 13, 2014.

The Company intends to use the net proceeds received from the offering to repay indebtedness incurred under the Company’s secured revolving credit facility primarily in connection with the Company’s acquisition in December 2013 of two enclosed regional malls from certain affiliates of The Macerich Company, and for general corporate purposes, including future acquisitions, working capital and other needs.

BofA Merrill Lynch, Barclays, RBC Capital Markets, Credit Suisse and KeyBanc Capital Markets served as joint book-running managers for the offering. The offering of these securities may be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained by contacting: BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department or e-mail dg.prospectus_requests@baml.com; Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Telephone: (888) 603-5847, email: barclaysprospectus@broadridge.com; RBC Capital Markets, Attention: Prospectus Department, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, New York 10281-8098, or by telephone at (877) 822-4089; Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, New York 10010, Attention: Prospectus Department, Telephone: (800) 221-1037, email: newyork.prospectus@credit-suisse.com; or KeyBanc Capital Markets, 127 Public Square, 4th Floor, Cleveland, Ohio 44114, Attn: Prospectus Delivery Department, or by telephone at (800) 859-1783.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

About Rouse Properties

Rouse is a publicly traded real estate investment trust (“REIT”) 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 34 malls in 21 states encompassing over 23.4 million square feet of space.

Forward-Looking Statements

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These forward-looking statements may include statements related to the Company’s ability to outperform the ongoing recovery of the retail and REIT industry and the markets in which the Company’s mall properties are located, the Company’s ability to generate internal and external growth, the Company’s ability to identify and complete the acquisition of properties in new markets, the Company’s ability to complete redevelopment projects and the Company’s ability to increase margins, including Net Operating Income. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 and other documents filed by the Company with the Securities and Exchange Commission.

Contacts

Rouse Properties, Inc.
Investor Relations, 212-608-5108
IR@rouseproperties.com

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Contacts

Rouse Properties, Inc.
Investor Relations, 212-608-5108
IR@rouseproperties.com