HOUSTON (Houston Chronicle <http://blogs.chron.com/primeproperty/2009/11/good_news_for_general_growth_1.html> ) – Mortgage restructuring worth $8.9 billion could save two area malls owned by General Growth Properties from bankruptcy.
Deerbrook Mall and The Woodlands Mall were two of 158 regional General Growth-owned properties that filed for Chapter 11 bankruptcy in April.
The agreements, covering loans for more than 70 malls, could enable some centers to escape bankruptcy by the end of the year and extend loan due dates to January 2014 or as far back as 2018.
