All Posts Tagged With: "general growth"

General Growth Properties GGP Posts Largest Real Estate Bankruptcy in U.S. History

After months of speculation, General Growth Properties Inc. (GGP) filed the biggest real estate bankruptcy in U.S. history, ending a futile seven-month effort to refinance its debt.

General Growth filed for Chapter 11 seeking protection from creditors after it amassed $27 billion in debt accumulating over 200 shopping mall properties. The filing covers 158 of its U.S. malls, but excludes its joint-venture properties and third-party management business.

The Chicago-based company – the country’s second largest shopping mall owner – owns such valuable properties as Fashion Show in Las Vegas and Faneuil Hall Marketplace in Boston. It listed total assets of $29.56 billion…

17Apr2009 | Money Morning | 0 comments | Continued

  • Polls

    How Has The U.S. Recession Affected You?

    View Results

    Loading ... Loading ...
    • Improve the web with Nofollow Reciprocity.