bridgeland guy Posted November 15, 2008 Share Posted November 15, 2008 Major mall owner says it faces solvency trouble<H2></H2>By PURVA PATEL and NANCY SARNOFFCopyright 2008 Houston ChronicleNov. 12, 2008, 7:48PM/**/A potential bankruptcy of General Growth Properties should mean business as usual for the Chicago company's local properties, experts said.But for Bridgeland, its newest master-planned community in the area, the future appears more uncertain.The real estate investment trust owns, in whole or in part, Baybrook Mall, Deerbrook Mall, First Colony Mall, the Woodlands Mall and Willowbrook Mall. It also owns just over half of The Woodlands.General Growth announced Tuesday it was facing huge debt payments in December and 2009 that could force it to seek bankruptcy protection.Peter Houghton, Bridgeland's vice president of sales, said though the project is getting close to standing on its own, it still depends on expenditures from its parent company to complete certain ongoing projects. Link to comment Share on other sites More sharing options...
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