The Real Deal Miami

Owner of five area malls may file for bankruptcy

November 12, 2008 02:49PM

General Growth Properties, owner of five major shopping
malls in South Florida, may have to file for bankruptcy if it is unable to
refinance or extend payments, due next month, on a $1 billion debt. The
company’s malls include Bayside in Miami, the Village of Merrick Park in Coral
Gables and Mizner Park in Boca Raton. General Growth Properties has another
$3.07 billion in property and corporate debt scheduled to come due next year.