CHICAGO, Dec. 16 /PRNewswire-FirstCall/ -- From the humble beginnings as
the son of a grocery store owner in Iowa to the pioneer of the modern-day
shopping mall and, today, chairman of the country's second largest Real Estate
Investment Trust, Matthew Bucksbaum exemplifies the qualities it takes to be a
leader in the real estate industry. For these reasons he was bestowed with
the honor of receiving the 2002 Lifetime Achievement Award from the Urban Land
Institute Chicago.
Matthew Bucksbaum, 76, founded General Growth Properties, Inc. (NYSE: GGP)
with his brother Martin in 1954. During the past six decades, he has seen the
once family-owned grocery store business become one of the country's largest
and most profitable shopping center owners and developers.
"Each year, ULI Chicago honors an individual from the Chicago real estate
community whose life exemplifies the mission of ULI and who, in addition to a
lifetime of commitment to real estate, has given back to the community through
demonstrated civic, charitable and philanthropic endeavors," said Joseph
O'Connor, Urban Land Institute.
Matthew Bucksbaum graduated Cum Laude from the University of Iowa with a
B.A. in Economics. In 1997, he received the Outstanding CEO Award from Realty
Stock Review and Retail Property Executive of the Year Award from Commercial
Property News. He previously served as chairman of the International Council
of Shopping Centers. In 1999, he received the Human Rights Medallion Award
from the Chicago Chapter of The American Jewish Committee. Mr. Bucksbaum was
recently elected as a trustee of the Chicago Symphony Orchestra.
"Matthew Bucksbaum has been a tremendous role model, not only for me, but
many other people who've had the pleasure of working with and learning from
him," said John Bucksbaum, chief executive officer of General Growth
Properties, Inc.
ABOUT URBAN LAND INSTITUTE -- the Urban Land Institute is a community of
practice for those engaged in the entrepreneurial and collaborative process of
real estate development and land use policy-making. Founded in 1936, ULI now
has 17,000 members working in the public and private sectors, a staff of 100
in Washington, D.C., and a $27 million operating budget. ULI members are the
people that plan, develop and redevelop neighborhoods, business districts and
communities across the U.S. and around the world-experts from 13 different
product sectors and 26 disciplines, working in private enterprise and public
service (from http://www.uli.org ).
General Growth Properties is the country's second largest owner, developer
and manager of regional shopping malls. General Growth currently has ownership
interest in, or management responsibility for, a portfolio of 169 regional
shopping malls in 41 states. The company portfolio totals approximately
146,000,000 square feet of retail space and includes over 16,000 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 and its portfolio of
malls, please visit the company web site at http://www.generalgrowth.com .
SOURCE General Growth Properties, Inc.
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Related links:
http://www.uli.org
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
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/110740.html
CONTACT:
David Keating, Manager, Media and Consumer
Relations Mall Name-Corporate, of General Growth Properties,
Inc., +1-312-960-6325, or fax, +1-312-960-5484
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