The Real Deal Miami

General Growth filing may reshape mall business

April 17, 2009 08:40AM

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.