7/14/2010

The Teacher Retirement System of Texas will invest $500 million in the reorganized General Growth Properties. In return, it is receiving equity at $10.25 per share. The deal, still subject to approval from the bankruptcy court, is part of GGP's push to explore alternative finance options beyond the initial agreements it forged with Brookfield Asset Management, Fairholme Funds and Pershing Square Capital Management.

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