General Growth Properties Inc. (GGP)

[justthefactsmam]

ggp bk shaking/changing legal foundations:

some time ago i posted that ggp's bk would change the way reit loans would be done and that it would be transformative to the industry. looks like it might be even wider spread than r/e.

this is why the secured lender's modifications were so difficult and why some of those secureds are still not complete. it will get done, and soon, but this is what simon and the rest of the reit industry will be facing when their loans come up for renewal.

ok, dividend should be approved today, the remainder of the secureds should fall in line, and we can then move to complete the unsecured and shareholder issues. hopefully the wind is at our back for the remainder of the year and into next.


http://currents.westlawbusiness.com/Articles/2009/12/20091215_0023.aspx?cid=&src=