12/3/2009

The $9.7 billion restructuring plan submitted to the bankruptcy court by General Growth Properties doesn't require the distressed mall REIT to sell any of its best-performing properties. David Simon, CEO of rival mall owner and operator Simon Property Group, has said his REIT is a "logical buyer" for General Growth's malls, but it doesn't look like any top-quality properties will be left on the table by the restructuring. "We have no current plans to sell any of those assets we consider to be strategically important," said Thomas Nolan, General Growth's chief operating officer.

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