By  on December 12, 2008

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.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus