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BAM Reported to Value GGP at $15….Some Details $$

Here it is….Ackman’s hand all over this……GOOD!!

Gen Growth Prop Follow Up: General Growth proposes splitting itself in 2 to exit bankruptcy (13.50 +0.53)

WSJ reports the co is expected to unveil a plan Wednesday to exit bankruptcy this year by splitting the company in two, with Canadian property investor Brookfield Asset Management (BAM) pledging $2.63 billion to the effort, said several people familiar with the matter. The complicated plan, drafted partly by activist investor and General Growth board member William Ackman, is meant to top a $10 billion buyout bid that rival mall owner Simon Property Group (SPG) made last week… The Brookfield plan values General Growth at $15 per share, but unlike Simon’s all-cash buyout offer, it relies heavily on selling massive amounts of new stock in the coming months. The Brookfield plan values General Growth at about $4.5 billion in equity value, compared with $3 billion from Simon. But Simon is offering creditors more cash over stock and also has been cutting deals with Blackstone Group and other deep pocketed partners in case it decides to raise its bid. Both plans would repay the company’s $7 billion in debt, though the General Growth plan would likely convert some of that debt into stock, said these people.

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To Quote Emeril ……… BAM!!! $$

The Brookfield Boys (BAM/BPO) come through for me…

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Moody's: CRE Prices Increasing $$

Is David Simon out there????

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Moody’s: CRE Prices Increasing $$

Is David Simon out there????

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General Growth News……Fast and Furious $$

Getting hard to keep up with it

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Now Blackstone's Joining Our GGP Party $$

So, has David Simon lost all credibility with anyone else or just me?

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Now Blackstone’s Joining Our GGP Party $$

So, has David Simon lost all credibility with anyone else or just me?

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Simon to GGP: "We Might Rescind The Offer You Rejected" …So What?? $$

Just got back from a day on the inter-coastal waterway…first time, really neat. Now, let’s look at this and call it what it is…..

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Simon to GGP: “We Might Rescind The Offer You Rejected” …So What?? $$

Just got back from a day on the inter-coastal waterway…first time, really neat. Now, let’s look at this and call it what it is…..

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Simon Offer for GGP $$

It is a joke…..details to come at www.wsmco.com where I did a telephone interview this morning.