General Growth Properties, the second-largest mall operator in the US, filed a reorganization plan saying it will split itself into two companies when it exits bankruptcy in October. Under the proposal in US Bankruptcy Court in New York, General Growth will fully repay debt and other claims, raise as much as $8.5bn of new capital and issue stock in two new companies to current shareholders.
Most Popular Articles
A new bill in the House of Representatives would make cooperatively owned units, or co-ops, eligible for mortgages backed by the VA.
Warren Buffet’s annual letter to Berkshire Hathaway shareholders gave a glimpse into the earnings of its HomeServices of America affiliate, the nation’s second-largest real estate brokerage.