Bayside Marketplace owner General Growth Properties said Tuesday that it filed a proposed reorganization plan with a federal bankruptcy court Manhattan expects to emerge from Chapter 11 protection this fall as two separate companies.
The real estate investment trust filed for bankruptcy 15 months ago after amassing a $27 billion debt load while making acquisitions. At the time, it owned about 200 shopping malls in 43 states, including Faneuil Hall in Boston, the Glendale Galleria in Southern California and the South Street Seaport in Manhattan.
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