Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Monday, December 1, 2008 Alderwood mall owner obtains extension on debt Herald Staff An owner of Alderwood mall has secured a two-week extension on $900 million in debt, which had been scheduled to come due last week. General Growth Properties Inc., of Chicago continues to negotiate longer-term extensions with lenders to avoid bankruptcy, the company reported on Sunday. The $900 million mortgages cover two shopping malls owned by General Growth in Las Vegas. The nation’s second-largest mall owner struggles with its debts, as the financial crisis clogs the credit market. The company owns seven malls in Washington state, including Alderwood and Westlake Center in Seattle. Alderwood mall covers about 1.3 million square feet is the biggest shopping mall in Snohomish County. READER COMMENTS Be the first to comment. You must be a registered user and verify your e-mail address to post comments to blogs or articles on HeraldNet. To register, click here. To read other terms and conditions, click here. Log out

1. Snohomish County man dies of swine flu 2. Lynnwood bank reprimanded by government 3. Police ID make of vehicle in fatal hit-and-run 4. Armed man shot by deputies in Arlington 5. IRS joins puppy mill investigation 6. Jetty Island ready for sand castles 7. Boeing's 6-month tally: 1 net order 8. Warriors & Patriots: Many American Indians served before getting full citizenship rights 9. Movin' out 10. Marshals seize swindler's home 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

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