Spokane's North Town Mall Owner in the News

clipped from seattlepi.nwsource.com Owner of 7 malls in Washington faces possible bankruptcy By ANDREA JAMES P-I REPORTER A Chicago company that owns seven mall properties in Washington state faces financial trouble and possibly bankruptcy, but its shopping centers will continue to operate as usual. General Growth Properties Inc. operates Westlake Center in downtown Seattle, Alderwood Mall in Lynnwood, two malls in Spokane and malls in Bellingham, Kelso and Aberdeen. Its portfolio includes more than 200 mall properties around the U.S.. Within two weeks, $958 million of the company's debt will mature. Next year, an additional $3.07 billion in debt is due. General Growth is working with its lenders to extend loan maturity dates, refinance or sell assets.