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Post# of 137481
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jerseygirl

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jerseygirl

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Tuesday, 01/06/2009 6:34:32 AM

Tuesday, January 06, 2009 6:34:32 AM

Post# of 137481
Good Morning Everyone. GGP news

General Growth Properties-GGP announces litigation settlement
05:04 a.m. 01/06/2009 Provided By Fly On The Wall


General Growth Properties, Inc. (GGP) announced that the lawsuit brought by Caruso Affiliated Holdings LLC relating to Glendale Galleria, a California mall owned by the Company‰??s GGP/Homart II joint venture, has been settled for $48 million. The Company will not be reimbursed for any portion of this payment by its fifty percent joint venture partner in GGP/Homart II, and it will also reimburse $5.5 million of costs to such joint venture partner in connection with the settlement.

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