General Growth posts $23.8 million loss in May
Shopping mall owner General Growth Properties Inc. reported a $23.9 million net loss attributable to common shareholders for May, on revenue of $218 million.
Operating income for the month was $86.1 million, while interest expense was $102 million and reorganization items were $15.5 million.
The report covered only companies that began the largest real estate reorganization in history when they filed in Chapter 11 on April 16.
The balance sheet of the Chicago-based company had assets of $29.6 billion and liabilities of $27.3 billion as of Dec. 31. It owns some 200 shopping mall properties.
The case is In re General Growth Properties Inc., 09-11977, Bankruptcy Court, U.S. District Court, Southern District of New York (Manhattan).
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