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NEW ORLEANS — General Growth Properties Inc. lost a Louisiana shopping mall to foreclosure by Citigroup Inc. and two other investors, a sign that lenders are less willing to give the Chicago firm more time to pay its bills.
The owner of Park Meadows mall missed a March 16 payment deadline on $95 million due to Citicorp North America Inc., Sandelman Partners CRE CDO I Ltd. and Pembrook Community Investors LLC, Citigroup said.
