General Growth Properties
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General Growth Properties (NYSE: GGP) is a real estate investment trust that concentrates on large enclosed shopping malls. Their IPO was in April 1993, and since that time (through the end of 2007), they've increased funds from operations an average of 15% per year. Their headquarters are in Chicago Illinois.
The Company was founded in 1954 by Matthew and Martin Bucksbaum. The first property they built was Town and Country Center in Cedar Rapids Iowa. They do have a dividend reinvestment plan DRIP for shareholders. Sandeep Mathrani is now CEO.
General Growth Properties Malls:
St Louis Galleria, Ala Moana Center, Alderwood, Altamonte Mall, Animas Valley Mall, Northbrook Court, The Pines, Jordan Creek Town Center, Arizona Center, Northwest Plaza, Bayshore Mall, Lansing Mall, Birchwood Mall, Otay Ranch Town Center, Grand Teton Mall, Stonestown Galleria, Whaler's Village, Rio West Mall, Pioneer Mall, Novi Town Center, Galleria at Tyler, Park Meadows, Park Place, Queen Ka'ahumanu Center, SouthBay Pavilion, Bellis Fair, The Shops at La Cantera, Mizner Park, and Tysons Galleria.
It filed for bankruptcy in 1999, but has survived. Its land development business was spun off into the The Howard Hughes Corp. It owns 180 malls in 43 states.
General Growth is a REIT that profits from the shopping habits of consumers around the United States.
Next: Glimcher Realty Trust -- regional, super regional and community shopping malls
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