General Growth Properties Inc., which is struggling to stave off bankruptcy and refinance billions in debt, on Monday reported lower-than-expected fourth-quarter funds from operations, as the weak economy crimped retail rents.
The real estate investment trust, which has a stake in more than 200 malls across 44 states, also declined to issue an outlook for 2009, citing the uncertainty of its refinancing efforts.
Tuesday, February 24, 2009
General Growth's fourth-quarter profit lower than expected
Crain's Chicago Business reports:
