General Growth retains Chicago law firm Nov 21, 2008
General Growth Properties retains Sidley Austin LLP in advisory role - Baltimore Business Journal ... General Growth Properties retains Sidley Austin LLP in advisory role. (Baltimore Business Journal, MD)
General Growth Takes on Bankruptcy Counsel: Report Nov 20, 2008
NEW YORK (Reuters) - General Growth Properties Inc has hired law firm Sidley Austin as bankruptcy counsel as it negotiates with lenders for more time to restructure its $27 billion debt, the Wall Street Journal said on Wednesday. The move does not mean that a Chapter 11 filing from the company is imminent, the report added. (ABC News -- Wire)
Westfield model a global success Nov 20, 2008
Mr Simon said his company was better positioned to survive a drop in spending than competitor General Growth Properties, after taking on less debt than the Chicago REIT.. General Growth, the biggest US shopping centre owner after Simon Property, said earlier this month it may have to seek protection from its creditors if it was unable to refinance or extend $US958 million ($A1. (Sydney Morning Herald -- Business)
Westfield's Peter Lowy Says Malls Will Survive Recession, Spending Drop Nov 20, 2008
Simon said his company is better positioned to survive a drop in consumer spending than competitor General Growth Properties Inc., after taking on less debt than the Chicago-based REIT.. General Growth. (Bloomberg -- Australia & New Zealand)
A new leaf for Quincy Market Nov 18, 2008
That could happen if the troubled Chicago-based General Growth Properties Inc., the current landlord, files for bankruptcy protection, as is possible. The early-19th-century market built along a cobblestone promenade had fallen into disuse, until a bold rehabilitation plan in 1976 - and a 99-year commercial lease - restored the city-owned Quincy, North, and South market buildings. (Boston Globe)
Malls owners may face bankruptcy Nov 16, 2008
Published: Saturday, November 15, 2008 11:12 AM EST General Growth Properties Inc., owners of the Eagle Ridge Mall in Lake Wales, saw its stock plummet this week after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month ... "General Growth has an interest in more than 200 shopping malls in 44 states.Eagle Ridge Mall was opened in 1996, and covers approximately 650,000 square... (Lake Wales News, FL)
Integre Advisors: Correction on General Growth Properties Nov 15, 2008
NEW YORK, Nov. 14 /PRNewswire/ -- Integre Advisors states: "In a release issued yesterday titled 'The Move to a Less Levered World' we misstated that 'General Growth Properties had to declare bankruptcy.' It has not. The release should have stated: 'General Growth Properties may have to declare bankruptcy.'". SOURCE Integre Advisors, LLC. (PR Newswire)
Troubled mall owner may file bankruptcy Nov 15, 2008
General Growth Properties (GGP), which also owns Columbia Mall, is the nation's second-largest mall owner ... General Growth Properties Corporate Spokesman David Keating said Thursday morning, in a telephone interview from his Chicago office ... General Growth Properties Corporate Spokesman David Keating said Thursday morning, in a telephone interview from his Chicago office. (Jefferson City News Tribune, MO)
Ward contractor sues General Growth for $16M Nov 15, 2008
General Growth Properties Inc., which said it is on the verge of bankruptcy, was slapped with a nearly $16 million lien by the contractor of its Ward Village Shops in Kakaako ... The contractor for Ward Village Shops filed a nearly $16 million lien yesterday against General Growth Properties Inc., which is facing bankruptcy if it fails to refinance or extend nearly $1 billion in debt ... The contractor for Ward Village Shops filed a nearly $16 million lien yesterday against General Growth... (Honolulu Star-Bulletin)
Read more here Nov 14, 2008
On Monday, General Growth Properties Inc., the nation's second-largest mall owner, announced it may default on some of its $1 billion debt obligation due next month. Selectmen Chairman John Ciccariello said the mall has been a frequent topic of discussion this week, and the concern has been around for a while. (Allston Brighton TAB, MA)
Plano: General Growth Properties Inc. faces possible bankruptcy Nov 14, 2008
General Growth Properties Inc. (GGP), owner of Collin Creek Mall and Stonebriar Centre, may be forced to seek bankruptcy protection from its creditors if its debt can't be extended or refinanced ... General Growth Properties acquired Columbia, Md. (McKinney Courier-Gazette, TX)
New manager for market? Nov 13, 2008
General Growth Properties, a Chicago-based real estate investment trust, began leasing Faneuil Hall Marketplace from the city in 2004. (John Tlumacki/Globe Staff) By Jenn Abelson Globe Staff / November 13, 2008. (Boston Globe)
Market Winners & Losers: Ford, AK Steel Nov 13, 2008
General Growth Properties: (GGP). Things go from bad to worse for the mall owner. (Fox News)
Ala Moana Center owner may default on debt, file bankruptcy Nov 13, 2008
Shares in General Growth Properties Inc., owner of Ala Moana Center and Ward Centers, plummeted yesterday after the company said it may file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month ... Ala Moana Center's owner, General Growth Properties, said it may file for bankruptcy. (Honolulu Advertiser)
Metro Mall Owner Considers Bankruptcy Nov 13, 2008
General Growth Properties owns Oakview, Westroads and Mall of the Bluffs. The company is suggesting bankruptcy may be its only option if it cant refinance its debt. (7 KETV Omaha)
2009 commercial real estate outlook darkens Nov 13, 2008
General Growth Properties, the nation's second-largest shopping mall owner, warned investors this week it might have to seek bankruptcy protection if it can't refinance or extend nearly $1 billion in debt due next month. The real estate investment trust faces another $3. (MSNBC -- Business)
General Growth Properties, owner of Sierra Vista mall, risks default Nov 13, 2008
Associated Press Advertisement CHICAGO General Growth Properties Inc. shares plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can t refinance or extend nearly 1 billion in debt due next month ... General Growth Properties. (Sierra Vista Herald, AZ)
Mall owner struggling Nov 13, 2008
CHICAGO (AP) -- Shares of General Growth Properties, owner of Pine Ridge Mall in Chubbuck, plunged for the second straight day Wednesday after the struggling mall owner warned it may need to file for bankruptcy and Standard and Poor's said it was removing the stock from the Sindex. GGP also owns Grand Teton Mall in Idaho Falls. (Pocatello Idaho State Journal, ID)
Galleria parent may seek protection Nov 13, 2008
Our potential inability to address our 2008 and 2009 debt maturities in a satisfactory fashion raises substantial doubts as to our ability to continue as an ongoing concern, General Growth Properties said in a Securities and Exchange Commission filing ... General Growth Properties reported a quarterly loss of $15. (St. Louis Business Journal, MO)
Concord mall's owner faces financial troubles Nov 13, 2008
General Growth Properties is the nation's second-largest owner of shopping malls, including the Steeplegate Mall in Concord. General Growth which also owns Faneuil Hall Marketplace in Boston said this week it may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. (Seacoast New Hampshire)
General Growth Dives On Debt Concerns Nov 12, 2008
General Growth Properties, the second-largest U.S. shopping mall owner, had its worst trading day ever yesterday after saying it may seek creditor protection if plans to refinance $958 million in debt do not succeed. General Growth, which bought the Rouse Co. in 2004, dropped 64 percent to close at 49 cents yesterday. (Washington Post)
Market Winners & Losers: Goldman Sachs, Genworth Nov 12, 2008
General Growth Properties (GGP). Shares plummeted on news that the company may not have enough capital to continue operations, many of this coming from the more than $4 billion that the company owes over the next year. (Fox News)
General Growth Properties risks default Nov 12, 2008
Tuesday, November 11, 2008. We've got everything in our. (Honolulu Star-Bulletin)
Ala Moana Center owner warns of trouble, may file for bankruptcy Nov 12, 2008
CHICAGO General Growth Properties Inc. shares plummeted today after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance or extend nearly $1 billion in debt due next month. The nation's second-largest mall owner, which owns Ala Moana Center and Ward Centers, also disclosed in a regulatory filing late yesterday that it may default on certain debt obligations. (Honolulu Advertiser)
General Growth Properties may file for bankruptcy Nov 12, 2008
Our potential inability to address our 2008 and 2009 debt maturities in a satisfactory fashion raises substantial doubts as to our ability to continue as an ongoing concern, General Growth Properties says in a Securities and Exchange Commission filing ... Last week, General Growth Properties reported a quarterly loss of $15. (Raleigh Triangle Business Journal, NC)
Financial trouble seen for owner of Coral Ridge Nov 12, 2008
Stocks plunged 67 percent Tuesday for General Growth Properties, the second largest U.S. mall conglomerate and owner of Coral Ridge Mall, possibly signaling grim tidings for the Coralville shopping metropolis. General Growth said Monday bankruptcy may lay ahead for the company if it can't consolidate its debt. (Daily Iowan, IA)
More of this story... Nov 12, 2008
This past summer General Growth Properties with the help of Disney Channel star, Selena Gomez held a nationwide campaign, UR Votes Count. The program provided teens an opportunity to vote on relevant topics such as the economy, the environment, health care, the war in Iraq, Social Security, national security, education and the next President of the United States. (The Exeter Sun, CA)
General Growth Properties out of S&P 500 Nov 12, 2008
General Growth Properties out of S- Washington Business Journal ... General Growth Properties out of S/h1. (Washington Business Journal, DC)
Market Winners & Losers: AIG, General Motors Nov 11, 2008
General Growth Properties Inc (GGP). The real estate investment trust watched its stock plummet 34% to $1. (Fox News)
TSX rises on China's spending plans Nov 11, 2008
25 US. General Growth Properties tumbled 70 cents, or 34 per cent, to $1. 37 US.. (Vancouver Sun)
Westlake Center in Seattle to go up for sale Nov 8, 2008
Westlake Center is being offered for sale as majority owner General Growth Properties struggles with debt obligations and a swooning stock price. The publicly traded Chicago-based real estate investment trust owns about 200 regional malls across the United States. (Puget Sound Business Journal, WA)
The Brualdi Law Firm, P.C. Announces Class Action Lawsuit Against General Growth Properties, Inc. Nov 8, 2008
NEW YORK, Nov. 7, 2008 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of General Growth Properties, Inc. (``General Growth'' or ``the Company'') (NYSE: - ) securities during the period between April 30, 2008 through October 26, 2008 (the ``Class Period'') for violations of federal securities laws. ADVERTISEMENT. (Primezone Releases)
Bull & Lifshitz, LLP Announces Investigation On Behalf of Certain Investors of General Growth Properties, Inc. Nov 8, 2008
Bull & Lifshitz, LLP Announces Investigation On Behalf of Certain Investors of General Growth Properties, Inc.: Financial News - Yahoo ... Bull & Lifshitz, LLP Announces Investigation On Behalf of Certain Investors of General Growth Properties, Inc.Friday November 7, 5:15 pm ET ... NEW YORK, Nov. 7, 2008 (GLOBE NEWSWIRE) -- Investor Notice - Attorney Advertising -- The law firm of Bull & Lifshitz, LLP is investigating possible illegal conduct as alleged in proposed class action lawsuit filed in... (Primezone Releases)
Market Winners & Losers: D.R. Horton, XL Capital Nov 7, 2008
General Growth Properties Inc. (GGP). Things are taking a turn for the better for the nations second-largest mall developer. (Fox News)
Market Winners & Losers: MBIA, Molson Coors Nov 6, 2008
General Growth Properties (GGP). The mall owner continues to fall as losses widened in the third quarter. (Fox News)
General Growth interim execs get pay packages Nov 5, 2008
General Growth Properties, Inc. (GGP) is a self-administered and self-managed real estate; John BucksbaumChairman of the Board Adam MetzInterim Chief Executive Officer, Director From The Lists Your resource for everything related to business in Chicago. 21. (Crain's Chicago Business)
Sale speculation follows mall Nov 4, 2008
With the struggling financial markets continuing to add fuel to the fire, we think the balance of power continues to shift toward [General Growth Properties ] lenders and buyers of its assets, analysts wrote in an Oct. 2 equity research report. In addition to refinancing mortgages that should generate some excess proceeds, we think GGP will also need to make a dent in asset sales, or do a large [joint venture] or some of the strategic initiatives that it recently put on the table. (Austin Business Journal, TX)
Market Winners and Losers: Office Depot, Hartford Oct 31, 2008
General Growth Properties (GGP). The company rose to $3. (Fox News)
Earn Your Shopping Black Belt on Black Friday Oct 31, 2008
com for more information on exciting Black Friday events hosted by General Growth Properties malls across the country. Courtesy of ARAcontent. (Ontario Argus Observer, OR)
General Growth replaces top execs Oct 29, 2008
General Growth Properties Inc., the Chicago-based shopping-mall owner whose shares have fallen 95 percent this year, has replaced CEO John Bucksbaum with interim CEO Adam S. Metz. Bucksbaum, 52, who resigned Sunday, will remain General Growth's chairman, the company said in a regulatory filing. (Honolulu Advertiser)
Brass Mill Center mall owner replaces CEO, president Oct 29, 2008
General Growth Properties, the Chicago-based real estate investment trust that owns the Brass Mill Center and Commons in Waterbury, said it will replace its chief executive and its president with two independent members of the company's board of directors. The moves were announced after the company's board learned the two officers were involved in loans that did not follow company policy. (Republican-American)
General Growth reveals improper loans and replaces two top executives Oct 28, 2008
The Associated Press October 28, 2008 Reporting from Chicago -- Real estate investment trust General Growth Properties Inc. said Monday that it replaced its chief executive and president with two directors, effective immediately, after learning about loans that were made that did not follow company policy. The company also said it would seek buyers for its Las Vegas retail property portfolio, which includes Fashion Show Mall, Grand Canal Shoppes and the Palazzo. (Los Angeles Times)
General Growth stock down after CEO replaced Oct 28, 2008
(Crains) The share price of General Growth Properties Inc. was down Monday amid increased speculation that the troubled shopping mall owner would be sold now that John Bucksbaum has been replaced as chief executive ... CEO leaves General Growth Properties after questionable loan deal. (Crain's Chicago Business)
Embattled General Growth names new CEO, president Oct 28, 2008
General Growth Properties Inc., the Chicago-based shopping-mall owner whose shares have fallen 95 percent this year, replaced Chief Executive Officer John Bucksbaum, who resigned yesterday, with interim CEO Adam S. Metz. Bucksbaum, 52, will remain General Growth's chairman, the company said today in a regulatory filing. (Honolulu Advertiser)
EXEC GETS MALL'ED ON LOAN Oct 28, 2008
Mall and land owner General Growth Properties Inc. said it would put several Las Vegas properties up for sale, had made management changes, and that it had found that its former chief financial officer had received a 90 million unsecured loan. General Growth named independent director Adam Metz as interim chief executive, replacing John Bucksbaum, who will continue to serve as chairman. (New York Post -- Business)
ATMS become a key weapon in the battle of Hawaii's banks Oct 21, 2008
Local banks sign exclusive agreements with retailers such as Ward Center owner General Growth Properties to lock in prime locations. Related News. (Pacific Business News, HI)
Downtown Partnership names board members Oct 21, 2008
Chris Bilotto, general manager of General Growth Properties, will step into a spot being vacated by colleague Lisa Gordon, who is taking on new responsibilities with General Growth and will not be able to remain on the DPP board. Ron Butler, Arizona managing partner of Ernst & Young, replaces Mark Stephens, who has been transferred to Ernst & Young s San Diego office. (Phoenix Business Journal, AZ)
Projects along Hawaii rail route stay the course despite economy Oct 20, 2008
"At Chicago-based General Growth Properties Inc., which owns Ala Moana Center and the planned Ward Neighborhood project, shares of the real-estate investment trust have plunged 85 percent this year amid concerns the company may be unable to make payments on its more than $27 billion in debts.Analysts speculate the company may need to merge or sell assets to keep current on its debt payments.Jan Yokota, General Growth's local vice president of development, said the company is committed to its... (Honolulu Advertiser)
In brief: Bucksbaums pay loan | Zuckerman and Daley | Northbrook sale Oct 18, 2008
An entity controlled by General Growth Properties Inc.s largest shareholder and founding family, the Bucksbaums, has paid off a loan from Citigroup Global Markets Inc. it used to finance the purchase of $588 million in company shares in August 2007 and March of this year, according to a Securities and Exchange Commission filing. The Citigroup loan had become a cause of concern as the shopping-mall owners shares plunged in recent weeks, prompting some observers to wonder whether the loan... (Crain's Chicago Business)
Ward high-rise plan draws mixed reviews Oct 18, 2008
About 50 people spoke at the state hearing, which was the first opportunity for interested citizens to publicly express their views about the proposal unveiled in April by developer and mall owner General Growth Properties ... General Growth Properties. (Honolulu Advertiser)
Mall plans are scaled back a bit Oct 17, 2008
"The integrity of the project is still intact," said Stephen Kriegel, senior director of development for General Growth Properties, the management company for the mall. "The scope of the project has been reduced slightly and we've eliminated some retail that wouldn't enhance the project, but we've also made some architectural improvements.". (Laurel Leader, MD)
General Growth Properties boosts pay for interim CFO Oct 17, 2008
for free extra services. Subscribe to Baltimore Business Journal. (Baltimore Business Journal, MD)
Community group rallies against Kakaako redevelopment plan Oct 16, 2008
About 40 citizens held a rally to publicize concerns over a plan by General Growth Properties to redevelop its Kaka'ako land around Ward Centers with as many as 20 high rises over 20 years. The group, led by Kaka'ako business owner Jim Frierson of Island Pool and Spa, said they are concerned about traffic congestion and the displacement of small business will harm the community. (Honolulu Advertiser)
Windward Mall Hosts Annual Festival of Giving, November 15 - 16 Oct 15, 2008
Windward Mall is managed by General Growth Properties, Inc., the second largest U.S.-based publicly traded real estate investment trust (REIT) based upon market capitalization ... General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit. (Honolulu Advertiser)
Hunting for an Investment Gem? Try REITs Oct 15, 2008
General Growth Properties. Owns high-end malls in troubled places like Las Vegas and has piled up debt building new malls. (Realtor Magazine Online)
Worries Grow Over Commercial Real Estate Oct 14, 2008
General Growth Properties, () the giant mall REIT, plunged 50% to all-time lows as investors worried it wouldn't make payments on its $27 billion debt. It's not alone. (Investors Business Daily)
U.S. Stocks Drop, Erasing Early Gains Oct 10, 2008
Four companies in for U.S. equities tumbled more than 90 percent over the past year through yesterday: AIG, National City Corp., General Growth Properties Inc. and Wachovia Corp.. The three biggest gains in the bear market came from tobacco, beer and hospital companies: UST Inc., Tenet Healthcare Corp. and Anheuser-Busch Cos. (Yahoo News -- U.S. Economy)
In brief: Whole Foods closing bakery | General Growth ratings cut | Dominick's to reopen store Oct 8, 2008
Standard s Ratings Services cut two ratings Monday on General Growth Properties Inc., reducing the Chicago-based shopping-mall owners corporate credit rating one notch, to B+ from BB, and the rating on its unsecured debt one notch, to B from BB. S Monday that the company has roughly $1. (Crain's Chicago Business)
Another horrible day for the major markets Oct 8, 2008
General Growth Properties, a mall owner, plunged 42 percent on concern it won't be able to repay debt. The S&P 500 slid 60. (NJ.com -- Times)
General Growth leads REITs down on debt concern Oct 8, 2008
General Growth Properties Inc., owner of the Brass Mill Center mall in Waterbury, led shares of U.S. shopping center owners lower on concern over the company's ability to repay its debt. Chicago-based General Growth declined 42 percent amid speculation the company may not be able to refinance $1. (Republican-American)
Galleria owner suspends dividend, hires interim CFO Oct 7, 2008
General Growth Properties is based in Chicago. Reader Comments. (St. Louis Business Journal, MO)
General Growth Properties Staggers Under Debt Load Oct 5, 2008
General Growth Properties (), the nation's No. 2 shopping mall company, may soon become the next giant felled by the credit crunch. Analysts believe that Chief Executive , who put the 54-year-old outfit deep into hock as he bought up retailing real estate across the country, could be forced to sell the company and its more than 200 malls nationwide because he'll be unable to make payments on its staggering $27. (BusinessWeek)
General Growth replaces CFO, stock up 27 percent Oct 4, 2008
NEW YORK (Associated Press) - Shares of General Growth Properties jumped 27 percent Friday after it replaced its chief financial officer amid news reports that he and other executives had been selling stock in the real estate investment trust. The company said Friday its Chief Financial Officer Bernard Freibaum would be replaced by Edmund Hoyt on an interim basis. (CNNMoney.com)
S&P 500 Winners & Losers: September And Third Quarter Oct 3, 2008
General Growth Properties (nyse: - - ). Real Estate Investment Trusts. (Forbes -- Markets)
First Potomac Realty Trust boosts Maryland portfolio Oct 3, 2008
The seller of both sites is an affiliate of Chicago-based General Growth Properties. The building cluster in Columbia is called Rivers Park I & II, located on Guilford Road near Route 29. (Washington Business Journal, DC)
