General Growth gets debt extension

Spillman, Benjamin
December 2008
Las Vegas Business Press (10712186);12/8/2008, Vol. 25 Issue 49, pP14
The article reports that General Growth Properties has secured a two-week extension on $900 million in loans it owes on Fashion Show mall and Shoppes at Palazzo in Las Vegas, Nevada. General Growth, which is considered the second largest real estate investment trust (REIT) in the U.S. has seen its stock fall from over $50 per share to less than $1 after investors lost confidence in the company's ability to repay several billion dollars in debt.


Related Articles

  • Mortgage REITS could recapitalise banks, says BPF.  // EuroProperty;8/3/2009, p8 

    The article focuses on real estate investment trusts (REITS) in Great Britain. It presents the views of several executives from the real estate business who see REITS as a potentially profitable way to clean up banks' loan books. Peter Cosmetatos, British Property Federation's finance director,...

  • 'Extend and amend' bumps banks' 'extend and pretend'.  // Indianapolis Business Journal;10/18/2010, Vol. 31 Issue 33, p18 

    The article reports that lenders will change amending mortgages in 2011 instead of extending maturities, according to 900 property professionals.

  • REIT Crackdown Shows Cracks. Hahn, Avital Louria // Investment Dealers' Digest;3/3/2003, Vol. 69 Issue 9, p14 

    Analyzes the business strategies of real estate investment trusts in the U.S. Repay of loans offered by real estate investment trusts to their executives; Description of the act which forbids public companies from making personal loans to employees; Steps taken by real estate investment trusts...

  • Untitled. O'Connell, Bridget // EG: Estates Gazette;12/7/2013, Issue 1350, p05 

    The article reports that Shaftesbury, a real estate investment trust in central London, England, has entered into a five-year revolving credit facility with Lloyd's bank to replace an existing facility due to expire in April 2016.

  • REIT's: Impact on Mortgage Credit. Korobow, Leon; Gelson, Richard J. // Appraisal Journal;Jan1972, Vol. 40 Issue 1, p42 

    Discusses the opportunities provided by the real estate investment trusts (REIT) on mortgage loans. Legal and regulatory status of REIT; Tax exemptions; Public offerings of debt and equity instruments for initial capital.

  • The feds look at underwriting practices and don't like what they see. Peterson, James R. // ABA Banking Journal;Aug98, Vol. 90 Issue 8, p41 

    Discusses the impact of real estate investment trusts (REITs) on commercial real estate loans in the United States. Banks' tendency to loosen underwriting standards in order to continue growth in their loan portfolio and boost profits resulting from an abundance of liquidity; Shift to riskier...

  • DDR Refis $1.2B Debt. Sibayan, Karen // High Yield Report;1/21/2013, p40 

    The article reports on the announcement by real estate investment trust (REIT) that it has closed the refinancing of its two senior unsecured revolver due in February 2016 and its senior secured term loan maturing September 2014.

  • Finance. Cobb, Mike // EG: Estates Gazette;4/25/2015, Issue 828, p05 

    The article reports on an unsecured credit facility secured by retail real estate investment trust Hammerson from nine banks, and mentions a trend towards early refinancings by large listed companies.

  • REIT Execs Rake in Loans. Hahn, Avital Louria // Investment Dealers' Digest;8/12/2002, Vol. 68 Issue 32, p10 

    Reports the increasing personal loans of the real estate investment trust investors in the U.S. Rank of the outstanding personal loans; Assessment of the credit lines; Amount of the approved loan transactions.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics