Thursday, April 16, 2009

Carolina Place owner files Chapter 11

Posted By on Thu, Apr 16, 2009 at 10:51 AM

As long as Carolina Place doesn't get like Eastland Mall, we should be OK.

From the Charlotte Observer:

The company that owns Carolina Place Mall in Pineville and Valley Hills Mall in Hickory has filed the biggest real estate bankruptcy in U.S. history.

General Growth Properties Inc., which also had planned to build a large mall in Mint Hill, has filed for Chapter 11 protection in U.S. Bankruptcy Court in New York, listing $27 billion of debts.

The mall owner said it will continue operating Carolina Place Mall, Valley Hills Mall and more than 200 other properties, including such prominent centers as South Street Seaport in Manhattan and Faneuil Hall in Boston.

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