By Alan Rappeport in Washington
Published: February 24 2010 23:26 | Last updated: February 24 2010 23:26
General Growth Properties, the second largest US mall operator, said on Wednesday that it had agreed to take $2.6bn of capital from Brookfield Asset Management and to split itself into two companies in a move that would allow it to emerge from bankruptcy.
The deal would give Brookfield, a Canadian property manager, a 30 per cent stake in General Growth and offers its stockholders $15 a share. If approved, it could also thwart the $10bn bid made last week by Simon Property, General Growth’s bigger rival which was offering $9 a share. Read Full Article
About Me
- Chris Stuard - Sperry Van Ness/Martin Commercial Group
- Chris serves as an Investment Advisor specializing is apartment and retail investments with Sperry Van Ness/Martin Commercial Group. As an member of the NAIFA, he was the NAIFA Greater Evansville Chapter President in 2004 and 2005. Chris retains the NAIFA’s senior designation, the IFAS. Chris holds a real estate license in the State of Indiana and Kentucky and is a member of the Indiana Commercial Board of Realtors. He is also a member of the National Association of REALTORS, Indiana Association of REALTORS, is an Indiana Certified General Appraiser, holds a HERS certification, is a certified Level I and Level II Indiana Assessor/Appraiser and is a certified Indiana Tax Representative.