Mall landlords are snatching up retail property during slump

As struggling retailers close up shop, mall landlords across the U.S. are responding by buying up surplus retail property or the retailers themselves. General Growth Properties, one of the most prolific real estate investment trusts, bought five Macy’s stores for $48 million in October after the retailer said it would close 100 of its 750 […]

GGP, Simon Property win Aeropostale bankruptcy auction

Aéropostale will live on, thanks to Simon Property Group and General Growth Properties. The two real estate investment trusts are part of a joint venture that on Thursday won a bankruptcy auction for the retailer. The new owners, who will pay $243.3 million, agreed to keep the clothing chain alive, but will shrink it from […]