The clock ticked throughout the weekend for General Growth Properties Inc., which managed to refinance or pay down $872 million in debt on Friday, but not another $900 million in loans maturing at the same time.
The Chicago-based real estate investment trust, which oversees a portfolio of more than 200 malls in 44 states, said Friday it secured about $896 million in mortgage loans, which it will use to retire a $58 million bond that came due Thursday and about $814 million in mortgage indebtedness maturing next year. The maturities on the new financing range from five to seven years.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"