FinallyRetired
Thinks s/he gets paid by the post
- Joined
- Aug 1, 2002
- Messages
- 1,322
I wonder what this means to REITs and insurance companies that have a lot of their funds tied up in malls.
NEW YORK (Reuters) - General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history.
Ending months of speculation, General Growth, along with 158 of its more than 200 U.S. malls, filed for Chapter 11 protection from creditors while it tries to restructure some of its debt. Its joint-venture properties and third-party management business were not included in the bankruptcy.
General Growth files for bankruptcy protection - Yahoo! Finance
NEW YORK (Reuters) - General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history.
Ending months of speculation, General Growth, along with 158 of its more than 200 U.S. malls, filed for Chapter 11 protection from creditors while it tries to restructure some of its debt. Its joint-venture properties and third-party management business were not included in the bankruptcy.
General Growth files for bankruptcy protection - Yahoo! Finance