General Growth Properties Inc., owner of some of the nation's most prominent malls, including the Glendale Galleria, filed for Chapter 11 protection from creditors Thursday, marking the biggest real estate bankruptcy in U.S. history.
The real estate investment trust amassed $27 billion in debt during an ill-timed acquisition spree that turned the Chicago-based company with Iowa roots into the nation's second-largest shopping mall company, behind Simon Property Group Inc.
So, do you think the commercial real estate market is going to start collapsing and the banks will need another bail out or do you think this is more of a fluke?
Answer by stacymomof2 at 11:27 AM on Apr. 19, 2009
Answer by waldorfmom at 1:13 PM on Apr. 19, 2009
Answer by foreverb3 at 5:06 PM on Apr. 19, 2009
Answer by Ibelongtojesus at 7:03 PM on Apr. 19, 2009
Answer by ProudTexan71 at 10:07 AM on Apr. 20, 2009
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