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.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)