by Calculated Risk on 3/20/2009 03:33:00 PM

From Reuters: General Growth loses some malls after defaults

A Louisiana court issued an order to seize and sell a General Growth Properties Inc GGP.N shopping center in a New Orleans suburb after the No. 2 U.S. mall owner failed to repay a $95 million loan, a Citigroup ... unit said on Friday.

The Oakwood Shopping Center in the town of Gretna is the fourth General Growth property seized in the last few days after the company failed to pay mortgage debt.

A possible General Growth Properties bankruptcy could happen in the next few days.