Monday, December 14, 2009

Still more on GGP - up for sale?

According to Adam Metz per this article, GGP is exploring options with "multiple parties." We've been talking about that for a while.

The good news is for those who bought low when it was uncertain whether shareholders would be wiped out. Take a look at its share price today. (We're talking less than $.50 at the low up to $10.67 Friday. Wow.)

The suitors? According to James Sullivan at Green Street Advisors, count on Simon (the Prime acquisition notwithstanding), Brookfield and Westfield. I would still not be surprised if a "dark horse" emerged from the hedge fund, private equity or other sectors. But the obvious players have to be the front runners, if for no other reason than they now have debt stakes.

1 comments:

Mark said...

I've followed your comments on General Growth over the last handful of months. Fortunately, I was one of those that bought low and I'm sure glad I did. Anyway, keep up the good work.

 
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