8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

July 2, 2012

Date of Report (Date of earliest event reported)

General Growth Properties, Inc.

(Exact name of registrant as specified in its charter)

Delaware	1-34948	27-2963337
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

110 N. Wacker Drive, Chicago, Illinois	60606
(Address of principal executive offices)	(Zip Code)

(312) 960-5000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.  Other Events.

On July 2, 2012, General Growth Properties, Inc. (“GGP”) issued a press release describing property-level financings that occurred during the second quarter 2012. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press release dated July 2, 2012 “GGP Finances $3.1 Billion of Property-Level Debt in Second Quarter”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		GENERAL GROWTH PROPERTIES, INC.
	By:		/s/ Stacie L. Herron
	Name:		Stacie L. Herron
	Title:		Vice President and Secretary
Date: July 2, 2012

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release dated July 2, 2012 “GGP Finances $3.1 Billion of Property-Level Debt in Second Quarter”

4

EX-99.1

Exhibit 99.1

GGP FINANCES $3.1 BILLION OF PROPERTY-LEVEL DEBT IN SECOND QUARTER

INTEREST RATE DECREASES FROM 5.24% TO 4.20%

Chicago, Illinois, July 2, 2012 — General Growth Properties, Inc. (NYSE:GGP) (“GGP”) today announced $3.1 billion ($2.7 billion at share) of property-level financings during the second quarter 2012. The new mortgages have a weighted average interest rate and term of 4.20% and nine years, respectively, as compared to a rate of 5.24% and a remaining term-to-maturity of 3.9 years. In addition, the financings eliminated $640 million of recourse to GGP and eliminated the cross collateral provision between Fashion Show and The Grand Canal Shoppes/The Shoppes at The Palazzo. The transactions generated $329 million of net proceeds after repayment of existing mortgage notes. Information regarding each financing is provided below:

		Prior Loan Terms							New Loan Terms
Mall	Location	Balance		Balance @ Share		Rate		Maturity Date	Balance		Balance @ Share		Rate		Maturity Date
Provo Towne Centre	Provo, UT	$	52	$	39	5.75	%	June 2012	$	42	$	32	4.53	%	June 2017
The Grand Canal Shoppes and The Shoppes at The Palazzo (a)	Las Vegas, NV	607		607		4.17	% (a)	May 2014/2017	625		625		4.24	% (a)	June 2019
Oakbrook Center	Oakbrook, IL	199		95		5.12	%	October 2012	425		203		3.66	%	July 2020
Ala Moana Center	Honolulu, HI	1,293		1,293		5.59	%	June 2018	1,400		1,400		4.23	%	April 2022
Harborplace & The Gallery	Baltimore, MD	61		61		7.89	%	June 2014	82		82		5.24	%	May 2022
The Streets at Southpoint	Durham, NC	228		215		5.36	%	April 2012	260		245		4.36	%	May 2022
Spokane Valley Mall	Spokane Valley, WA	52		39		5.75	%	June 2012	63		47		4.65	%	June 2022
Florence Mall	Florence, KY	90		64		4.95	%	September 2012	90		45		4.15	%	June 2022
Greenwood Mall	Bowling Green, KY	—		—		—		—	63		63		4.19	%	July 2022
		$	2,582	$	2,413	5.24	%		$	3,050	$	2,742	4.20	%

(a) The prior loans for The Grand Canal Shoppes and The Shoppes at The Palazzo bore interest at 4.78% fixed and LIBOR + 300 basis points, respectively. The prior loan interest rate of 4.17% shown above represents a blended rate of the two loans. The new loan bears interest at a fixed rate of 4.24%.

As previously disclosed, GGP obtained a $1.0 billion corporate line of credit. The new facility has an uncommitted accordion feature for a total facility of up to $1.25 billion and a term of four years. The pricing of the facility is currently set at LIBOR plus 250 basis points and is determined by GGP’s leverage level. In connection with the new facility, GGP terminated the $750 million corporate line of credit.

ABOUT GGP

General Growth Properties is a fully integrated, self-managed and self-administered real estate investment trust focused on owning, managing, leasing, and redeveloping regional malls throughout the United States and Brazil. The Company currently owns, or has an interest in, 150 regional shopping malls comprising approximately 141.7 million square feet of gross leasable area. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.  For further information please visit the GGP website at www.ggp.com.

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Contact Information:	Kevin Berry, Vice President of Investor Relations
	kevin.berry@ggp.com
	(312) 960-5529