Find in the news:
BY COUNTRY

General Growth hand in hand with largest rival



CEO of General Growth Properties has shown his personal strength by putting together a shopping mall portfolio for a divided economy in the US.

Since he took over leadership of the second-largest mall owner in the country, he has not only pulled it out of bankruptcy during 2011, but also amassed a portfolio of high-end shopping centers, which caters to affluent consumers.  This has resulted in the streamlining of General Growth around the market that is most lucrative.

He has made the decision to go beyond the suburban malls, as he has agreed to purchase a share in the Crown Building on Fifth Avenue, New York.

This astute deal-striking has boosted the holdings of shareholders.  The company’s share has increased by 127% since it came out of bankruptcy.  On a personal level, Mathrani has also benefited as he has collected around $27m in pay during the past two years and recently signed a five-year contract with an incentive package worth $25m.

His latest move is to aid the company’s archrival Simon Property Group in obtaining Macerich, number three on the list of real estate investment companies.  According to Simon, General Growth has agreed to purchase some of the Macerich malls if the deal is successful.  

The deal is a distinct move away from the CEO’s recent actions of targeted acquisitions.  

The benefits of the deal are clear from Simon’s perspective.  Passing the Macerich malls onto General Growth prevents them from competing in the bid which could have boosted the price way above the $20bn-plus Simon is currently offering.  It also eliminates some of the antitrust concerns related to the deal.  

The deal makes sense for General Growth if they are obtaining excellent centers at a good price, which they may do.  Macerich has some top properties in its portfolio, such as the Shops at North Bridge.  It is not clear however if Simon would pass this mall onto General Growth as it will not comment on the malls that will be available to General Growth.  

It should be noted that the arrangement with General Growth has only been agreed to in principle.

One disadvantage to General Growth is the leverage to be gained by Simon with national retail chains if they add Macerich malls to its already extensive portfolio.  However, General Growth is not a small outfit and Mathrani may believe that the deal will not boost Simon sufficiently to affect the overall competitive balance.

More about shopping malls in the USA



YESTERDAY, USA:
At the outlet, located in the Chelsea district of New York, visitors will be able to try out all of the IT giant's products and services, as well as get technical support.
YESTERDAY, USA:
Instead of top models, the brand's shows and advertising campaigns will involve women known for their achievements.
Jun 16, 2021, United Kingdom:
Anonymous buyers offered for the asset a record sum, five times the annual revenue of department stores.
Jun 10, 2021, USA:
The National Retail Federation predicts the market will experience the kind of rapid growth "the country hasn't seen since 1984.
Jun 9, 2021, USA:
Several Microsoft experience centers leftover from what was once a large chain of stores will offer more information and the opportunity to buy the company's technology.
Jun 7, 2021, USA:
The billionaire announced that he would fly into space on his own company's ship. The estimated date of flight is July 20th.
Friend
and Follow
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us