CHICAGO-Buyout firm Blackstone Group LP will acquire sharesworth $500 million from General Growth Properties once the latteremerges out of Chapter 11 bankruptcy. General Growth, which ownsabout 200 malls around the country including Water Tower Placehere, revealed Blackstone's part in its latest regulatory filing,which discusses its planned restructuring plan.

Meanwhile, an investor consortium that includes Pershing SquareCapital Management, the Fairholme Fund and Brookfield AssetManagement has agreed to finance about $8.5 billion for GeneralGrowth's emergence from bankruptcy. For the full story, goto The New York Times.


GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.

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

  • 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
NOT FOR REPRINT

© 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.