Over 50 Years of Experience

1954 - The Bucksbaum brothers, Martin and Matthew, decide to expand family grocery operation. Build Town and Country Center in Cedar Rapids, Iowa, one of the earliest centers in the Midwest.
1964 - The Bucksbaums hold five properties. Become majority stockholders in General Management Corporation.
1970 - Bucksbaum brothers exchange stock for shares in a Real Estate Investment Trust (REIT) called General Growth Properties. General Growth Companies is subsequently formed to plan, develop and manage the REIT assets.
1972 - GGP is listed on the NYSE.
1984 - General Growth sells 19 malls to Equitable for $800 million. It is considered at that time to be the nation's largest single asset real estate transaction, including more than eight million square feet of retail space. The REIT is liquidated but General Growth Management, Inc., the management company of General Growth Companies, continues to oversee the operations of a majority of the properties on a third-party basis.
1989 - General Growth acquires The Center Companies. This acquisition positions General Growth Management as the second largest regional shopping center management company in the nation and the top manager for institutional owners.
1993 - General Growth forms General Growth Properties, its second REIT with 55 percent of the company's holdings. The Bucksbaum brothers retain ownership of the remaining 45 percent. The initial public offering is for nearly 19 million shares at $22 a share.
1994 - General Growth purchases a 40 percent interest in CenterMark Properties, which was the owner and operator of 16 regional malls and three power centers.
December 1995 - General Growth sells 25 percent of its interest in CenterMark to the Westfield Holdings Group, resulting in a profit of $27 million.
December 1995 - General Growth purchases Homart Development Co. from Sears, Roebuck and Co. and establishes its corporate headquarters in Chicago, Illinois. The $1.85 billion acquisition, made in conjunction with four investment partners, represents one of the largest real estate transactions in U.S. history.
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