Caruso Wins $74M from GGP

The Galleria's owner, General Growth Properties, is also facing the prospect of substantial punitive damages because the jury found the company acted with “malice, oppression or fraud” by interfering with negotiations between the restaurant chain and Caruso Affiliated Holdings, the developer of the new shopping center. The punitive damage phase begins on Tuesday.

The case is the latest chapter in a long-running battle pitting General Growth, a publicly traded real estate investment trust based in Chicago, against Rick J. Caruso, the chief executive of Caruso Affiliated.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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