Hedge fund manager bets on long-term real estate growth

10/15/2010 | Bloomberg Businessweek

Hedge fund manager William Ackman will invest in an unprofitable collection of half-built malls and housing developments in the hopes a rebound in the real estate market will unlock its long-term value. The real estate will be spun off from the bankrupt General Growth Properties as a new company called Howard Hughes Inc. Ackman will chair the new firm when the deal closes in November.

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