General Growth Set To Spin Off 30-Mall Portfolio

Law360, New York (November 9, 2011, 5:24 PM EST) -- Major mall owner General Growth Properties Inc. is set to spin off Rouse Properties Inc. by year’s end, creating a stand-alone real estate investment trust with a portfolio of 30 shopping centers, GGP announced Wednesday.

GGP said it was on track for a year-end distribution of Rouse common stock to GGP shareholders, a move GGP settled on in August as part of the company’s effort to shed properties and focus on core assets after emerging from bankruptcy a year ago.

“This is a win-win transaction that...
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