Bankruptcy court gives Simon Property target more time
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers.
Commercial Real Estate
Articles
Creditors: General Growth biased toward Brookfield proposal
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s
agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property
Group also has bid to acquire the bankrupt company.
General Growth sets timeline for reorganization, plans IPO
General Growth, the bankrupt takeover target of Simon Property Group, aims to confirm a reorganization plan by Oct. 5. In addition, it said it will launch an initial public offering on Friday.
Stutz Business Center owner purchases Canterbury Hotel
Turner Woodard has purchased the historic Canterbury Hotel on South Illinois Street. He said the hotel fits his vision of
turning around properties and making them profitable.
Construction spending falls again
Construction spending fell for a third straight month in January as a slight rebound in housing was not enough to offset widespread
weakness in a number of commercial areas.
Regulators take interest in Simon’s play for Prime Outlets
The Federal Trade Commission has contacted Gap Inc. about Simon Property Group's proposed acquisition of Prime Outlets
Acquisition Co.
General Growth seeks to block lawsuit over Simon bid
General Growth Properties Inc. asked a judge to block a shareholder lawsuit accusing its board of improperly rejecting an
acquisition bid from Simon Property Group Inc.
Lawmakers probe banks’ lending to small businesses
U.S. House legislators want to get to the bottom of banks' roles in the economic recovery, both via loans to small businesses
and shouldering losses on commercial real estate lending.
Battle for General Growth biggest real estate fight in years
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate
skirmish since the sale of Sam Zell’s Equity Office Properties Trust.
Disagreement about parking delays project on Meridian Street
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
HAUKE: Letter to David Simon: Be careful with General
Simon is at a crossroads where many other CEOs have found themselves, with most of them getting caught up in the circus, only to find destruction in their wake.
Brookfield deal doesn’t put Simon out of General Growth game
The bid by Simon Property was an “initial salvo” and the Brookfield plan likely will prompt a new offer from the Indianapolis-based
mall owner, real estate research analyst says.
General Growth plans to split in two to exit bankruptcy
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield
Asset Management Inc
Brookfield after 30-percent stake in General Growth, source says
The plan by Toronto-based Brookfield Asset Management would give General Growth Properties a higher valuation than a $10 billion
takeover bid by Simon Property Group.
Report: Brookfield plans bid for Simon target General Growth
Brookfield Asset Management Inc. plans to bid for a stake in General Growth Properties Inc., beating an offer by Indianapolis-based
Simon Property Group Inc. for the bankrupt shopping mall owner, the Wall Street Journal reported.
General Growth board sued for rejecting $10B Simon bid
Directors at Chicago-based General Growth Properties Inc. are being sued by a shareholder claiming they shouldn’t have
rejected a $10 billion buyout offer from competitor Simon Property Group Inc.
Apartment developer plans 217 units in Lawrence
J.C. Hart Co. is designing plans for a $17 million upscale apartment community as part of the master-planned Lawrence Village
at the Fort.
Blackstone may join Simon’s bid for General Growth
Blackstone Group LP, the world’s largest private-equity firm, may join Simon Property Group Inc.’s bid to buy bankrupt
General Growth Properties Inc., according to two people with knowledge of the discussions.
Simon’s $10 billion bid for bankrupt General Growth roils retailing
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The
Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation’s largest mall owner succeeds
in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
Kite Realty reports quarterly profit, annual loss
Indianapolis-based developer Kite Realty Group Trust turned a small profit in the fourth quarter, but reported a loss in 2009
amid difficult commercial real estate conditions.