Feb
17
In the struggling commercial real estate sector, the strongest REITs are now taking over the weak. Simon Property Group, the nation’s number one mall operator today offered $10 billion to buy its biggest rival, General Growth Properties.
Now General Growth has been in bankruptcy for nearly a year and while it’s not commenting on this offer, this could mean welcome news for its creditors and shareholders who feared they would get little return on their investment. Scott Gurvey reports. Source
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