Last week’s GlobeSt.com Quick Poll asked readers if Chicago-based General Growth Properties would find a buyer for its malls in an effort to pay down $4 billion in outstanding debt through next year. The publicly traded REIT owns, develops, operates and/or manages malls in Florida and 43 other states. A total of 43% of voters responded that the attractive properties would sell, while 39% said they would not sell in this economy, and 18% of respondents said the REIT would end up not having to sell. According to its website, General Growth owns 14 malls throughout the Sunshine State. Mark Gilbert, executive vice president of Cushman & Wakefield’s capital markets group, is familiar with the sale of regional malls and retail centers statewide and shares his opinion about the sale with GlobeSt.com:

“I think they’ll be able to work things out with their current lenders and extend loans until there is more stability in the capital markets. They need to deal with near-term loan expirations in a prudent fashion.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 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.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.