Yesterday we mentioned the scuttlebutt about malled-up REIT General Growth Properties putting Westlake Center up for sale. Today GGP stocks were hammered after the company announced it "might be forced to seek protection from its creditors as it struggles to refinance debt," and are now trading at around $0.40 in after-hours trading. GGP has $958 million in debt due Dec. 1, but a "good price" for Westlake was quoted at just $150 million, so it's going to take more than that to right the REIT's ship. more ›

NYT über-pundit Thomas Friedman is married to Ann Friedman (née Bucksbaum), whose family (still) runs General Growth Properties, a Chicago-based REIT heavy into malls (they own eight in Washington alone). General Growth is trying to make some hefty debt payments and has to unload some of its inventory, which means Westlake Center downtown may now have a For Sale sign attached. The price tag is estimated at around $150 million. Who wants to start the bidding? more ›