General Growth Properties Inc., which emerged from bankruptcy last week, said it expects to take a $537 million noncash charge in connection with the spinoff of the Howard Hughes Corp. Get the full story »
Inside these posts: Mall owner
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Simon CEO says company has ‘firepower’ for deals
From Bloomberg | Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said.
US approves Simon Property’s buy of Prime Outlets
US antitrust regulators approved Simon Property Group’s purchase of Prime Outlets on Wednesday on condition that it sell an outlet center in Ohio and remove restrictions on some tenant leases in Chicago and Orlando. Get the full story »
General Growth eyes dividend; Hughes trades
General Growth Properties plans to resume paying dividends early next year, after the second-largest U.S. mall operator emerged from bankruptcy and spun off a new company, Howard Hughes Corp.
Citing a higher-than-expected cash stake, General Growth also said it expects to retire $570 million of obligations by paying cash, avoiding the potential issuance of more than 50 million common shares. Get the full story »
General Growth to reach end of bankruptcy
General Growth Properties Inc., the No. 2 U.S. mall owner, is slated to clear its final bankruptcy hurdle on Thursday, ending the largest U.S. real estate Chapter 11 filing.
While bankruptcy could soon be behind it, the company has a lot of challenges ahead, as investors and Wall Street will be looking at how it regains credibility as one of the largest U.S. real estate investment trusts. Get the full story »
Brookfield execs to lead new General Growth board
General Growth Properties Inc. on Tuesday named the nine members of the board of the company that will emerge from bankruptcy protection and take the No. 2 U.S. mall owner forward.
General Growth said Bruce Flatt, chief executive of Brookfield Asset Management, will be the chairman upon emergence from bankruptcy in early November. Get the full story »
