Simon Property Group Inc. said late Wednesday that it had added $1.1 billion in commitments from four investors — ING Clarion Real Estate Securities, Oak Hill Advisors, RREEF and Taconic Capital Advisors — as part of its effort to effect a recapitalization of General Growth Properties Inc. The funds are in addition to the $2.5 billion previously pledged by SPG and $1 billion from Paulson & Co. and follow GGP’s rejection in February of Simon’s offer to purchase bankrupt GGP for $10 billion. Simon’s offer is structured similarly to one from Canadian real estate firm Brookfield Asset Management, which, in tandem with William Ackman’s Pershing Square Capital Management and Fairholme Capital Management, is prepared to make a $6.55 billion investment in GGP. A bankruptcy court hearing to determine stalking horse status is set for April 29.

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