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Old 04-16-2009, 01:57 PM
 
Location: Charleston Sc and Western NC
9,273 posts, read 26,505,712 times
Reputation: 4741

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We all knew it was coming, now it's official

Mall Owner Files For Bankruptcy - Houston News Story - KPRC Houston (http://www.click2houston.com/news/19199101/detail.html - broken link)
Chicago-based General Growth Properties Inc. filed for Chapter 11 bankruptcy protection.

The company owns Baybrook, Deerbrook, First Colony, The Woodlands and Willowbrook malls in the Houston area.

The company said it is seeking relief to reduce and restructure its debts.

All of the malls will continue to operate as normal.

General Growth Properties is the second largest mall owner in the United States.
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Old 04-16-2009, 04:48 PM
 
Location: C.R. K-T
6,202 posts, read 11,458,760 times
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I wonder what happens to the malls and Bridgelands if they liquidate? Hopefully the new owners of the assets will make improvements. Hopefully the Bridgelands will have wider streets since I noticed they were too narrow during a REALTOR® open house.
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Old 04-16-2009, 04:59 PM
 
Location: Houston, TX
8,895 posts, read 20,009,164 times
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Well Baybrook is an exceptionally nice mall and always packed so it's not like the new owners will get something cratering and on it's way out (like Almeda Mall). Speaking of Almeda Mall - they are working on the end that housed Macy's prior to Ike - any word if Macy's will actually put a store back in there? - the storm seemed like a good out for them - that mall is always empty.
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Old 04-16-2009, 11:15 PM
 
1,336 posts, read 6,448,104 times
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Owner of First Colony, Woodlands malls files for Chapter 11 | Front page | Chron.com - Houston Chronicle

General Growth’s other local shopping centers — Baybrook Mall, First Colony Mall and Willowbrook Mall — were not involved in the bankruptcy filings.

The Chicago-based real estate investment trust also owns Bridgeland, a new master-planned community in northwest Harris County, as well as a 42.5 percent stake in The Woodlands Development Co., which operates the 28,000-acre residential development north of Houston. Morgan Stanley Real Estate Fund II owns the rest. Neither Bridge
land nor The Woodlands
 Development Co. were included in the bankruptcy filings.
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