WILL GENERAL GROWTH PROPERTIES FIND A BUYER FOR ITSMALLS?

Last week's GlobeSt.com Quick Poll asked readers ifChicago-based General Growth Properties would find a buyer for itsmalls in an effort to pay down $4 billion in outstanding debtthrough next year. The publicly traded REIT owns, develops,operates and/or manages malls in Florida and 43 other states. Atotal of 43% of voters responded that the attractive propertieswould sell, while 39% said they would not sell in this economy, and18% of respondents said the REIT would end up not having to sell.According to its website, General Growth owns 14 malls throughoutthe Sunshine State. Mark Gilbert, executive vice president ofCushman & Wakefield's capital markets group, is familiar withthe sale of regional malls and retail centers statewide and shareshis opinion about the sale with GlobeSt.com:

"I think they'll be able to work things out with their currentlenders and extend loans until there is more stability in thecapital markets. They need to deal with near-term loan expirationsin a prudent fashion.