With the sale of General Growth Properties Inc. (GGP), a Chicago-based REIT that owns some 120 retail assets throughout the U.S., to Brookfield Property Partners LP, a division of Toronto-based alternative assets manager Brookfield Asset Management Inc., many analysts feel the mall sector has been devalued. But what led to such a transaction, one of the few large-scale moves in the mall space in some time? NREI takes a look at GGP’s history, from its founding to eventual acquisition by Brookfield.
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