General Growth Properties Inc. plans to back a revised bankruptcy exit plan proposed by Brookfield Asset Management Inc. over
a competing offer by Simon Property Group Inc.
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two
equity partners for the project because banks were unwilling to lend.
Simon Property Group and Blackstone Group LP are in “ongoing discussions” for an investment in General Growth after the mall
operator turned down a $10 billion takeover bid from Simon in February, CEO David Simon said.
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions
on the sale of surplus state properties. He also acted as a developer for public-sector
tenants—putting them into buildings owned by him or his associates.
Simon Property Group upped its offer for rival General Growth Properties Inc., pledging to invest $2.5 billion in a reorganization
and match the terms of a bankruptcy exit plan led by Brookfield Asset Management Inc.
The Mass Ave. restaurant is set to become Mesh, which will feature a more casual atmosphere and menu, as well as a new operator who will
lease the space
from the building’s owners.
The provision would give General Growth time to explore a takeover bid from Simon Property Group Inc., whose $10 billion offer
was turned down by its rival in February. Simon is preparing a new bid, according to a person with knowledge of that plan.
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the
necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
Elliott Associates LP and Paulson & Co. are said to be discussing a plan to team with Brookfield Asset Management Inc. to
bring mall owner General Growth Properties Inc. out of bankruptcy, competing with Simon Property Group.
Simon Property Group Inc. is considering raising its $10 billion buyout offer for rival shopping mall owner General Growth
Properties Inc. as early as this week.
The landmark apartment building at 38th and Meridian streets formerly known as Summit House has been purchased by a pair of Chicago investors who plan to invest “a significant amount of capital” into the 20-story tower.
A new plan by mall owner General Growth Properties Inc. to exit bankruptcy resolves some uncertainty rival bidder Simon Property
Group Inc. has criticized, Simon CEO David Simon says.
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property
Group Inc. into the nation’s largest mall owner—is trying to land his biggest deal yet.
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers.
General Growth, the bankrupt takeover target of Simon Property Group, aims to confirm a reorganization plan by Oct. 5. In addition, it said it will launch an initial public offering on Friday.
Turner Woodard has purchased the historic Canterbury Hotel on South Illinois Street. He said the hotel fits his vision of
turning around properties and making them profitable.
Historic Landmarks Foundation of Indiana has taken over the Romanesque Revival former church known as Old Centrum along Central
Avenue at 12th Street.
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate
skirmish since the sale of Sam Zell’s Equity Office Properties Trust.
The Historic Landmarks Foundation of Indiana plans to acquire the Romanesque Revival former church and is considering moving
its headquarters there.
