Mall owners including Simon Property Group Inc. and General Growth Properties Inc., the biggest in the U.S., are signaling they’re moving on from struggling retail centers as the economic rebound drives them to focus on the best-performing markets.
General Growth Properties Inc. Chief Executive Officer Sandeep Mathrani said he’s watching rival mall owner Westfield Group ’s planned sale of 17 U.S. properties before choosing a strategy for trimming his company’s holdings.
Brookfield Asset Management Inc. is keeping a tight grip on its stake in General Growth Properties Inc. in a bet the second-largest U.S. mall owner is better off as an independent company that will jump in value.
General Growth Properties Inc. , the U.S. mall owner planning to refinance $5 billion of mortgage debt, tapped UBS AG and Morgan Stanley to fund loans as banks rebuild inventory to back bonds tied to commercial real estate.
General Growth Properties Inc., the second-largest U.S. mall owner, agreed to buy Pershing Square Capital Management LP’s 14 percent stake in Brazil’s Aliansce Shopping Centers SA for about $195 million.
New York’s Fifth Avenue is claiming a city retail record: Japanese clothier Uniqlo agreed to pay $300 million over 15 years to bring its affordable fashions to the world’s most expensive shopping area.