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CHICAGO-Bankrupt General Growth Properties, the target of one of retails biggest tug-of-war battles in for the past few months, still managed to post positive figures in the first quarter. According to Q1 data released Monday by the REIT, core funds from operations was $254.1 million, or 78 cents per fully diluted share, for the first quarter 2010, compared to a loss of $122.9 million, or 38 cents, for Q1 2009.

A bankruptcy court on Friday agreed to allow GGP to partner with Toronto-based Brookfield Asset Management on an $8.5 billion plan to emerge from its financial troubles. Simon Property Group, based in Indianapolis, pulled its competing bid after the court decision.

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