
Shares of General Growth Properties Inc rose nearly 20 percent after its largest shareholder issued a rebuttal to Hovde Capital Advisors LLC, which had said the U.S. mall owner was overvalued.
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Shares of General Growth Properties Inc rose nearly 20 percent after its largest shareholder issued a rebuttal to Hovde Capital Advisors LLC, which had said the U.S. mall owner was overvalued.
Discounts on teen apparel are piling up quicker than unsold hoodies and plaid shirts this holiday season as the under-20 set show they are mature enough to wait for a bargain.
A judge overseeing the bankruptcy of mall operator General Growth Properties approved a plan that would release 103 properties from Chapter 11 and pave the way for the company itself to focus on emerging from bankruptcy.
The bankruptcy of General Growth Properties has created a once-in-a-lifetime opportunity for suitors, but as they circle the No. 2 U.S. mall owner they are likely to find consummating a deal is not easy.
Bankrupt General Growth Properties has been approached by suitors, including rival mall owner Simon Property Group, but there have been no formal proposals yet.
Westfield Group, the world's biggest shopping mall landlord by market value, will slash its payout to shareholders from next year to help conserve cash for acquisitions and development projects.
U.S. shopping center and mall owners can expect to see a lot of vultures circling this year's International Council of Shopping Centers convention in Las Vegas.
General Growth Properties, the second largest U.S. mall owner, filed for bankruptcy protection on Thursday 16 April in one of the biggest real estate failures in U.S. history.
A Long Island mall partly owned and managed by Simon Property Group SPG.N has defaulted on a $124 million balloon mortgage payment after two of the main stores there filed for bankruptcy.
Westfield Group Ltd WDC.AX, the world's top mall owner by market value, will not start work on any mall projects this year, it said on Thursday, saving up to A$2 billion ($1.3 billion), as capital markets remain shaky.