REITs Hitch a Ride on General Growth Story With the Mall...

REITs Hitch a Ride on General Growth Story

With the Mall Landlord Set to Emerge from Bankruptcy Protection, Investors Are Bidding Up the Shares of Its Rivals, Too.ArticleCommentsmore in Real Estate Main .BY A.D. PRUITT
Investors are on the prowl for the next General Growth Properties Inc.

When General Growth filed for bankruptcy-court protection last year, in the midst of the commercial-real-estate meltdown, the company's stock collapsed to a low of 33 cents a share. Now that General Growth, the nation's second-largest mall landlord, is expected to emerge from bankruptcy and is fielding ambitious recapitalization bids, the stock is trading at more than $15a huge gain for investors who jumped in last year when it dipped below a dollar.

The General Growth story has inspired buying among the stocks of other troubled real-estate firms, including ...