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General Growth Properties Shareholders: Best Case Scenario?

February 16, 2010

Analysis of:Simon Properties offers General Growth $10B buyout | news.yahoo.com

As GGP's stock has tumbled from near $70 two years ago to as low as $0.30 last year, GGP's ability to refinance its debt and come through bankruptcy has remained unclear. Today, Simon Property Group has offered approximately $9 per share. The offer would be part SPG stock and part other consideration. (GGP currently trading @ $11/share). Pundits expect GGP to negotiate a higher buyout but question if GGP has any other way out of bankruptcy.

General Growth Properties: Shareholders' Best Option?

February 16, 2010

Analysis of:Simon Properties offers General Growth $10B buyout | news.yahoo.com

Simon Property Group has offered $10 billion for General Growth. Simon’s offer would fully repay $7 billion to General Growth's unsecured creditors and $3 billion to shareholders. Simon made the public offer, valued at $2 less than General Growth's current trading value, after General Growth executives failed to respond to Simon's overtures. "Simon's offer provides the best possible outcome for all General Growth stakeholders," said David Simon, chairman and CEO, in a statement.

This article is right on regarding falling Commercial Real Estate sector

October 15, 2009

Analysis of:Commercial Real Estate Poised to Disappoint | www.taipanpublishinggroup.com

Considering the conditions needed for a recovery in commercial real estate – specifically, falling unemployment and rising consumer spending – even optimists are pointing to the third quarter of next year as the beginning of the upswing. The good news – things may not get worse between now and then.

FDIC to create value "mark" by selling Corus portfolio

September 24, 2009

Analysis of:Corus Auction Promises Property 'Mark' | online.wsj.com

The FDIC is poised to sell approximately $5 billion in condominium loans and other property held by the failed Corus Bank. The winning investor will have the ability to acquire a high quality condo portfolio at a significant discount. This is the largest bulk sale of commercial property assets since the financial crisis began in October of 2008. This will be a key test of the U.S. commercial real estate values, thus establishing a benchmark for future transactions.

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