CHICAGO—Shopping-mall owner General Growth Properties Inc. says it has received another extension on $900 million in loans for two Las Vegas properties.
Lenders agreed to place the loans in forbearance until Feb. 12 as the Chicago company looks to sell some of its assets or raise fresh capital to help pay upcoming debt maturities. The mortgages cover two Las Vegas malls, Fashion Show and Palazzo, which the company is trying to sell.
It had received a two-week extension on the loans for the Las Vegas properties earlier this month.
General Growth has a stake in more than 200 shopping malls in 44 states, including four in Colorado: Chapel Hills Mall in Colorado Springs, Foothills Mall in Fort Collins, Southwest Plaza in Littleton and Park Meadows in Lone Tree.
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