General Growth Wins Approval Of $45M Property Sale

Law360, New York (August 26, 2010, 6:21 PM EDT) -- Bankrupt real estate developer and mall owner General Growth Properties Inc. has won approval to sell property in Nevada master-planned community Summerlin to Pulte Homes and Richmond American Homes for a total of about $45 million.

Judge Allan L. Gropper approved the lot sales to the homebuilders in a brief hearing Thursday in the U.S. Bankruptcy Court for the Southern District of New York, finding the deals to be in “good faith.”

Appearing via conference call, GGP lawyer Chad Husnick of Kirkland & Ellis LLP told...
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