Commercial and residential real estate news briefs from the most active U.S. markets
Detroit
From the August issue: Chicago-based developer and shopping mall owner General Growth Properties got a big boost last month when the Texas teacher pension fund announced that it was investing $500 million in the company. This purchase of shares could be a boon to General Growth, which filed its Chapter 11 bankruptcy reorganization plan last month following its bankruptcy in April 2009, the largest such case in U.S. history. The Teacher Retirement System of Texas bought at $10.25 per share, according to the Associated Press. General Growth currently owns 200 malls across the country, making it one of the largest shopping-mall owners in the nation.
Click here for more real estate news from across the country. Compiled by Amy Tennery.