Commentary: Future Looks Bright for General Growth's Oklahoma Malls

Summary

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There is a good chance that Oklahoma City's Quail Springs Mall and Norman's Sooner Mall will not change hands any time soon, according to comments made by Sandeep Mathrani, the newly appointed CEO of General Growth Properties. In today's CoStar Advisor e-mail newsletter, Mathrani said that his primary focus is on shrinking the REIT's portfolio and strengthening its strongest performing properties.

According to the article, Mathrani said that General Growth currently has 180 malls, 11 of which will most likely be given back to lenders. Mathrani's target is to have 150 properties in General Growth's portfolio, meaning that it will still have to sell 19 properties. The REIT plans to focus largely on well-performing shopping malls and sell off many of its non-mall assets. Mathrani said the following in the article:

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Extract

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Commentary: Future Looks Bright for General Growth's Oklahoma Malls

"We would like to sell our non-core strips and office, again opportunistically. We're looking to sell the stand-alone strip sho...

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