CHICAGO, May 28 /PRNewswire-FirstCall/ -- General Growth Properties, Inc.
(NYSE: GGP) has closed the previously announced acquisition of Victoria Ward,
Limited, a privately held real estate corporation.
The principal Victoria Ward assets include 65 fee simple acres in Kakaako,
central Honolulu, Hawaii, currently improved with over one million square feet
of leasable area. Victoria Ward is located within two blocks of Ala Moana
Center, General Growth's premier property located in Honolulu. Included in
the Victoria Ward acquisition is one of Hawaii's most popular entertainment,
shopping and dining districts, which includes, Ward Entertainment Center, Ward
Warehouse, Ward Village and Village Shops. In total, Victoria Ward currently
has 29 buildings and 17 ground leases containing approximately 880,000 square
feet of retail space, as well as approximately 440,000 square feet of
commercial, office and industrial properties.
General Growth Properties is one of the nation's largest shopping center
owners, managers and developers. General Growth currently has ownership
interest in, or management responsibility for, a portfolio of 142 regional
shopping malls in 39 states. The company portfolio totals approximately 126
million square feet of retail space and includes over 15,000 retailers
nationwide. A publicly traded Real Estate Investment Trust (REIT), General
Growth Properties is listed on the New York Stock Exchange under the symbol
GGP. For more information on General Growth Properties, visit the company
web site at http://www.generalgrowth.com .
SOURCE General Growth Properties, Inc.
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Related links:
http://www.generalgrowth.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990208/CGM015
PR Newswire Photo Desk, +1-888-776-6555 or +1-212-782-2840
http://www.prnewswire.com/gh/cnoc/comp/110740.html
CONTACT:
John Bucksbaum, +1-312-960-5005, or Bernie
Freibaum, +1-312-960-5252, both of General Growth Properties
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