General Growth has received offers on South Street Seaport

March 04, 2009 11:35AM

General Growth Properties has received offers of nearly $400 million
for some of its properties, including New York City’s South Street
Seaport. The mall owner faces bankruptcy and put the South Street Seaport property,
along with Boston’s Faneuil Hall and the Harborplace & the Gallery in
Baltimore, on the market in December. The company received more than 10 bids and has not yet decided whether to sell the properties together or individually. The company has $1.18 billion in overdue
debt.


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