General Growth secures forbearances for Fashion Show, Palazzo mortgage loans, senior credit agreement

By Caroline Salls

Pittsburgh, Dec. 18 - General Growth Properties, Inc.'s syndicate of lenders has agreed to a forbearance and waiver agreement for the company's $900 million Fashion Show and Palazzo mortgage loans, according to a company news release.

The forbearance and waiver agreement runs through Feb. 12.

In addition, the company said the syndicate of lenders for its 2006 senior credit agreement has entered into a forbearance and waiver agreement for that loan that runs through Jan. 30.

The company said it has agreed to restrictions and covenants during the forbearance period on the senior credit agreement.

General Growth is a Chicago-based real estate investment trust.

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