Brookfield Property to buy mall operator GGP

March 26 (Reuters) - Commercial real estate company Brookfield Property Partners LP said on Monday it will buy GGP Inc, one of the largest owners and operators of U.S. shopping centers, for $23.50 per share.

GGP shareholders can elect to receive, either $23.50 in cash, or either one Brookfield unit, or one share of a newly created company for each share held, the companies said.

GGP rejected a $14.8 billion cash-and-stock offer from Brookfield Property, its largest shareholder, in November. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta)