Monday, July 20, 2009

General Growth Bankruptcy Update Two

Judging from this post by Brian McMorris on Seeking Alpha, things are looking up for General Growth Properties as it works its way through the bankruptcy restructuring.

“After a brief run to $3 per share, the stock has pulled back down to $1.65. This is not due to any fundamental change, but just the fact the buzz wore off the stock, temporarily. If anything, the recent court rulings and general improvement in the economy and banking sector bode well for General Growth.”

This is indeed good news for the company and its Columbia Town Center redevelopment plan as it moves toward county council deliberations on ZRA 113 this fall.