Shopping mall owner gets loan extension
7:46 AM Mon, Dec 01, 2008 | Permalink
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General Growth Properties, the owner of Providence Place mall that is considering filing for bankruptcy protection, got a two-week extension from its lenders on $900 million in mortgage loans. General Growth and the banks are discussing a longer extension to repay the loans, the Chicago-based company said today. General Growth, the biggest mall owner after Simon Property Group Inc., said earlier this month it may have to seek protection from its creditors if it's unable to refinance or extend $958 million in debt scheduled to mature by Dec. 1. 
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what is mortgage? :)
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