General Growth mulls buying urban retail property -CEO

Thu Jun 6, 2013 2:53pm EDT
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NEW YORK, June 6 (Reuters) - Mall owner General Growth Properties Inc is considering buying urban retail property, but the real estate would have to be of the highest quality and be big enough to attract the type of luxury tenants in the company's top malls, Chief Executive Sandeep Mathrani said on Thursday.

General Growth may be interested in one or two properties in the United States that could meet that criteria, should they come up for sale, he said.

But Mathrani also said at the National Association of Real Estate Investment Trust's Investor Forum in Chicago, "We're not starting a business to buy street retail."