General Growth filing may reshape mall business
April 17, 2009 09:20AM
RCA's Dan Fasulo
General Growth Properties' bankruptcy filing may change the nation's mall business and give rival Simon Property Group an opportunity to buy up more mall properties, said Dan Fasulo, managing director at real estate research firm Real Capital Analytics. General Growth has said it hopes to keep the company intact, but it has already tried to sell off several properties, including South Street Seaport and two Las Vegas developments. General Growth's purchase of Rouse Company in 2004, which brought with it several high-profile properties, put General Growth into $27.3 billion of debt.
[Bloomberg]
The Real Deal reserves the right to delete any comment it finds to be rude, obscene, racist, sexist, bigoted, irrelevant or repetitive, as well as inappropriate comments about anyone's personal appearance. The Real Deal does not endorse any comments posted on its Web site nor does it verify the veracity of comments or the identity of posters.
Comments