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GGP Buys the Last of its Shares from Bill Ackman

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Bill Ackman's Pershing Square Capital has exited its investment in regional mall REIT GGP, according to Bloomberg. The hedge fund, which invested in the REIT's restructuring while it was going through Chapter 11 bankruptcy, sold 28 million shares back to the company for $556 million. After selling back another 25 million shares for $500 million last fall, it no longer holds a stake in GGP. According to comments Bill Ackman made to Bloomberg back in 2011, the investment in GGP turned ...

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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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