General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions
on the sale of surplus state properties. He also acted as a developer for public-sector
tenants—putting them into buildings owned by him or his associates.
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
Owner of Flaherty & Collins’ apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It’s
the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
Simon Property Group Inc. added four backers to its proposal to help rival mall owner General Growth Properties Inc. emerge
from bankruptcy, increasing the plan’s total investment by $1.1 billion.
Melvin Simon’s daughter Deborah is lashing out at her stepmother Bren in a new court filing, saying she was “mentally
and verbally abusive” toward the billionaire late in his life and kept him isolated from friends and family.
Texas-based Tilt Family Entertainment acquires GameWorks chain, which closed last month, leaving gaping hole on fourth floor
of mall.
Bid to invest in General Growth Properties would give Simon too much control over its biggest competitor, said
fund manager Bruce Berkowitz, who’s backing a rival plan.
Most of the 148,000-square-foot building just north and east of the 96th Street/Interstate 69 interchange is empty.
General Growth Properties Inc. is seeking a higher price, fewer stock warrants or both from Brookfield Asset Management Inc.
after its bankruptcy exit plan was matched by Simon Property Group Inc.
Simon Property Group upped its offer for rival General Growth Properties Inc., pledging to invest $2.5 billion in a reorganization
and match the terms of a bankruptcy exit plan led by Brookfield Asset Management Inc.
John A. Kite’s total compensation fell to $689,074 last year while the rest of his management team also took deep pay cuts.
In IBJ's new video feature offering management wisdom, Jeff Henry
of commercial real estate brokerage Cassidy Turley reveals how to keep your staff cool when the heat is on.
Shares in General Growth Properties Inc., the second-biggest U.S. mall owner, fell as much as 6.7 percent Monday morning after
a newsletter report that Simon Property Group Inc. may abandon a takeover bid for its smaller rival.
Work force reductions, new business structure make leased office space unnecessary. Moves will begin in late June.
Affiliates of Lauth’s largest financial backer, Inland American Real Estate Trust in Chicago, agree to dismiss their suit
against
the Indianapolis-based
developer, and also withdraw a request to have a Chapter 11 trustee appointed.
One of the city's top office brokers is launching a new tenant-rep group with a TV commercial after the Masters golf
tournament on Sunday.
Departure of GameWorks arcade leaves another 27,000 square feet of vacant space on the mall’s fourth floor, which has struggled
for years to
keep tenants.
The provision would give General Growth time to explore a takeover bid from Simon Property Group Inc., whose $10 billion offer
was turned down by its rival in February. Simon is preparing a new bid, according to a person with knowledge of that plan.
The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank
over a naming-rights deal announced March 16.
