CHICAGO-In March 2009, General Growth PropertiesInc. (GPP) filed for Chapter 11 bankruptcy. Weighed downby maturing loans and an economy that was particularly cruel to theretail sector, the mall owner relied on help from the courts forhelp with debt restructuring, while finding equity partners to helpout.

In November, 2010, the company emerged from bankruptcy. And twoyears later, it presented a couple of pieces of news to demonstrateit's moving toward profitability and reasonable success. Thestrategic focus of the company involves 1) the sale of non-coreassets; 2) conversion of temporary leases to permanent spaces; 3)delivering and 4) executing its redevelopment plan. A recentearnings call demonstrated that the company is moving forward onthe first two strategies.

On Nov. 14, GGP restructured a series of loans totaling $1.2billion, which carry a weighted average interest rate of 3.65% andan average term of 8.4 years (compared to a rate of 4.62% and aremaining term-to-maturity of approximately one year). The loanrestructuring also yielded $545 million of net proceeds.