Replies to post #1993 on General Growth Properties Inc. (GGP)

[MWM]

The rest of the REITs today are very weak again, if they ever do BK GGP, the market is going to fall hard...

[Chance To See]

A couple of interesting points in that article.

“Citicorp North America filed a petition Tuesday in the 24th Judicial District Court, seeking the loan payment through the mall's sale.”

This clarifies that the petition was filed on Tuesday, right after the missed payment, which makes more sense.

“The mall's anchor tenants, Dillard's, Sears and JC Penney, own the buildings they occupy, Roberts said.”

This makes it even more sensible for GGP to let the place go, as they probably could not get $95 million for it at this point anyway.