GGP Inc.

GGP Inc.
Formerly
  • General Management (1954–1970)
  • General Growth Properties (1970–2017)
Company typePublic
NYSE: GGP
IndustryCommercial real estate
GenreShopping malls
Founded1954; 70 years ago (1954) in Cedar Rapids, Iowa
Founders
DefunctAugust 28, 2018; 6 years ago (2018-08-28)
FateAcquired by Brookfield Property Partners
Headquarters
Chicago, Illinois
,
US
Area served
United States
Key people
  • Bruce Flatt (chairman)
  • Sandeep Mathrani (CEO)
RevenueIncrease $2.346 billion (2016)
Increase $1.272 billion (2016)
Total assetsDecrease $22.732 billion (2016)
Total equityIncrease $8.635 billion (2016)
Number of employees
1,800 (2016)
Websiteggp.com

GGP Inc. (an initialism of General Growth Properties) was an American commercial real estate company and the second-largest shopping mall operator in the United States. It was founded by brothers Martin, Matthew and Maurice Bucksbaum in Cedar Rapids, Iowa, in 1954, and was headquartered in Chicago, Illinois, from 2000. It was subject to the largest real estate bankruptcy in American history at the time of its filing in 2009.[1]

GGP was acquired by Brookfield Property Partners, and management of its portfolio was transferred to Brookfield Properties, in 2018. Its portfolio included 125 properties comprising approximately 121,000,000 square feet (11,200,000 m2) in 40 U.S. states at the time of its acquisition, ranking behind only Simon Property Group in total square footage.[2]

  1. ^ Jonas, Iliana; Chasan, Emily (April 16, 2009). "General Growth files largest U.S. real estate bankruptcy". Reuters. Retrieved December 30, 2019.
  2. ^ "2018 Top Retail Owners". National Real Estate Investor. June 5, 2018. Retrieved December 30, 2019.