Entries tagged "General Growth"
Institutional investors, who took minority stakes in General Growth Properties, will take a hit on their bottom lines from the REITs Chapter 11 filing last week.
Mall owners may be the next batch of businesses to take a tumble as 2008 nears a close. Already, two of the largest retail property owners in the U.S. -- General Growth Properties Inc. and Centro Properties Group -- have been in talks with their lenders to renegotiate the terms of close to $10 billion in bank loans and credit lines. In General Growth's case, a failure to win concessions on its lending terms could place it in default and prompt a bankruptcy filing. ...
General Growth Properties Inc. [GGP] has lived up to its name in the recent real estate run-up, expanding to the second-largest mall owner in the U.S. The problem is the company has accumulated $18.7 billion in debt over the last couple of years to fuel its growth, and the bill will be due over the next four years, The Wall Street Journal reports. The company now is looking to unload some assets to pay for its upcoming bills....
