Chicago-based General Growth Properties (GGP), once considered one of the dominant owners of regional malls in the country, is now aiming to form a new real estate investment trust (REIT) with 35 properties it owns, according to a new report from Reuters. Such a move would trim GGP’s holdings exclusively to regional malls.

The report, citing two unnamed sources, notes that the new REIT would include neighborhood strip shopping centers, office properties and weaker regional malls that the company had planned to sell or return to lenders, the sources said.

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