CHICAGO-Buyout firm Blackstone Group LP will acquire shares worth $500 million from General Growth Properties once the latter emerges out of Chapter 11 bankruptcy. General Growth, which owns about 200 malls around the country including Water Tower Place here, revealed Blackstone's part in its latest regulatory filing, which discusses its planned restructuring plan.
Meanwhile, an investor consortium that includes Pershing Square Capital Management, the Fairholme Fund and Brookfield Asset Management has agreed to finance about $8.5 billion for General Growth's emergence from bankruptcy. For the full story, go to The New York Times.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
