The Real Deal Miami

General Growth has received offers of almost $400M

March 04, 2009 11:39AM

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 the sell the properties

together or individually. The company has $1.18 billion in overdue

debt. In Florida, General Growth also recently put Miami’s Bayside Marketplace on the market.