Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

General Growth Interested in Vornado Malls, Mathrani Says

General Growth Properties Inc. Chief Executive Officer Sandeep Mathrani said his company would be interested in buying Vornado Realty Trust’s best shopping malls should they be put up for sale.

“I like the malls, and I’m sure if they come to market we’d hope to be able to participate in attempting to buy the ‘A’ malls,” Mathrani said today in response to a question about Vornado’s plans on General Growth’s quarterly conference call with analysts.

Vornado plans to “reduce our exposure to the enclosed-mall business,” Steven Roth, the company’s chairman, said in his annual letter to investors on April 13. Before becoming CEO of Chicago-based General Growth last year, Mathrani was president of New York-based Vornado’s retail division.

Investor demand for malls is rising as landlords boost rents and occupancies amid increasing consumer spending. Vornado, in its latest annual report, listed seven properties in its regional-mall portfolio. The retail centers are in New York, New Jersey, Virginia and Puerto Rico, and include Springfield Mall in Springfield, Virginia, a 1.4 million-square-foot (130,000-square-meter) property that the company plans to continue renovating, Roth said in the letter.

General Growth, the biggest U.S. shopping-mall owner after Simon Property Group Inc., said yesterday that funds from operations excluding some items rose in the first quarter as tenant sales increased.

General Growth rose 2.3 percent to $18.34 today in New York. The shares have gained 13 percent in the past year. Vornado climbed 0.1 percent to $87.60 today and has lost 9.5 percent in the past 12 months.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.