GENERAL GROWTH PROPERTIES INC - FORM 8-K - EX-99.1

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Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
CASE NO. 09-11977 (Jointly Administered)
Reporting Period: November 30, 2009
Federal Tax I.D. # 42-1283895
CORPORATE MONTHLY OPERATING REPORT
FOR FILING ENTITIES ONLY

I declare under penalties of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.


	GENERAL GROWTH PROPERTIES, INC.

Date: December 30, 2009	by:	/s/ Edmund Hoyt
		Edmund Hoyt
		Chief Financial Officer

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

Debtors Monthly Operating Report as of and for the Month Ended November 30, 2009

Index


Combined Condensed Statements of Income and Comprehensive Income for the Month Ended November 30, 2009 and Cumulative Post-Petition Period Ended November 30, 2009			3

Combined Condensed Balance Sheet			4

Notes to Unaudited Combined Condensed Financial Statements			5
Note 1: Chapter 11 Cases and Proceedings			5
Note 2: Basis of Presentation			6
Note 3: Summary of Significant Accounting Policies			7
Note 4: Cash and Cash Equivalents and Amounts Applicable to Debtor First-Lien Holders			7
Note 5: Certain Other Assets and Liabilities and Liabilities Subject to Compromise			8
Note 6: Rejected Contracts and Related Matters			9
Note 7: General and Administrative Expenses and Reorganization Items			10

Schedules:

Schedule I Schedule of Combined Condensed Statement of Income and Comprehensive Income for the Month Ended November 30, 2009			11
Schedule II Schedule of Combined Condensed Balance Sheet as of November 30, 2009			12
Schedule III Schedule of Payroll and Payroll Taxes			13
Schedule IV Schedule of Federal, State and Local Taxes			13
Schedule V Schedule of Total Disbursements by Debtor			23
Schedule VI Schedule of Debtors’ Operating Property Aged Tenant Accounts Receivable			33
Schedule VII Status of Mortgages Payable For Debtors			34
Schedule VIII Chapter 11 Retained Professionals Detail			37
Schedule IX Schedule of Non-Noticed and De Minimis Asset Sales			38
Schedule X Debtors Questionnaire			40

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

COMBINED CONDENSED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)


	Month Ended			Cumulative Post-Petition
	November 30, 2009			Period Ended November 30, 2009
	(In thousands, except for
	per share amounts)
Revenues:
Minimum rents	$	141,206		$	1,042,035
Tenant recoveries		62,657			467,213
Overage rents		5,776			24,580
Land sales		746			5,336
Other		6,414			45,895

Total revenues		216,799			1,585,059

Expenses:
Real estate taxes		20,157			147,640
Repairs and maintenance		18,143			116,734
Marketing		3,625			17,778
Ground and other rents		932			7,812
Other property operating costs		25,680			207,989
Land sales operations		1,511			12,099
Provision for doubtful accounts		75			15,063
Property management and other costs		9,329			63,586
General and administrative		1,475			41,050
Provisions for impairment		—			133,327
Depreciation and amortization		50,700			385,619

Total expenses		131,627			1,148,697

Operating income		85,172			436,362

Interest (expense) income, net		(94,645	)		(724,226	)

Loss before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(9,473	)		(287,864	)
Benefit (provision) from income taxes		(1,831	)		584
Equity in income of Real Estate Affiliates		10,889			75,719
Reorganization items		(4,977	)		(63,731	)

Loss from continuing operations		(5,392	)		(275,292	)

Net loss		(5,392	)		(275,292	)
Allocation to noncontrolling interests		(992	)		(2,067	)

Net loss attributable to common stockholders	$	(6,384	)	$	(277,359	)


Basic and Diluted Loss Per Share:	$	(0.02	)	$	(0.89	)
Dividends declared per share		—			—

Comprehensive Loss, Net:
Net loss attributable to common stockholders	$	(6,384	)	$	(277,359	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		1,040			13,500
Accrued pension adjustment		183			539
Foreign currency translation		(766	)		47,073
Unrealized gains on available-for-sale securities	—				93

Other comprehensive income, net		457			61,205

Comprehensive loss attributable to common stockholders	$	(5,927	)	$	(216,154	)

The accompanying notes are an integral part of these combined condensed financial statements.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

COMBINED CONDENSED BALANCE SHEET
(UNAUDITED)


	November 30, 2009
	(Dollars in thousands)
Assets:
Investment in real estate:
Land	$	2,946,948
Buildings and equipment		19,475,610
Less accumulated depreciation		(4,074,153	)
Developments in progress		780,120

Net property and equipment		19,128,525
Investment in and loans to/from Unconsolidated Real Estate Affiliates		390,402
Investment property and property held for development and sale		1,188,232
Investment in controlled non-debtor entities		3,982,625

Net investment in real estate		24,689,784
Cash and cash equivalents		739,157
Accounts and notes receivable, net		332,173
Goodwill		205,257
Deferred expenses, net		238,635
Prepaid expenses and other assets		546,753

Total assets	$	26,751,759


Liabilities and Equity:
Mortgages, notes and loans payable	$	400,000
Investment in and loans to/from Unconsolidated Real Estate Affiliates		32,363
Deferred tax liabilities		906,021
Accounts payable and accrued expenses		735,374

Liabilities not subject to compromise		2,073,758

Liabilities subject to compromise		22,508,578

Total liabilities		24,582,336


Redeemable noncontrolling interests:
Preferred		120,756
Common		35,686

Total redeemable noncontrolling interests		156,442


Commitments and Contingencies		—

Preferred Stock: $100 par value; 5,000,000 shares authorized; none issued and outstanding		—

Equity:
Common stock: $.01 par value; 875,000,000 shares authorized, 313,831,467 shares issued as of November 30, 2009		3,138
Additional paid-in capital		3,793,991
Retained earnings (accumulated deficit)		(1,717,855	)
Accumulated other comprehensive loss		(3,617	)
Less common stock in treasury, at cost, 1,449,939 shares as of November 30, 2009		(76,752	)

Total stockholder’s equity		1,998,905
Noncontrolling interests in consolidated real estate affiliates		14,076

Total equity		2,012,981

Total liabilities and equity	$	26,751,759

The accompanying notes are an integral part of these combined condensed financial statements.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 1 Chapter 11 Cases and Proceedings

As previously disclosed pursuant to the Monthly Operating Report filed on June 15, 2009, for the period ended April 30, 2009 (the “April MOR”), on April 16, 2009 (“the Petition Date”), General Growth Properties, Inc. (the “Company”), GGP Limited Partnership (“GGPLP”) and certain of the Company’s domestic subsidiaries (collectively, the “April 16 Debtors”) each filed voluntary petitions for relief pursuant to Chapter 11 (“Chapter 11”) of Title 11 of the United States Code (the “Bankruptcy Code”). On April 23, 2009, an additional 28 of the Company’s domestic subsidiaries (the “April 22 Debtors”) also filed voluntary petitions for Chapter 11 relief. The 388 Debtors’ cases (collectively, the “Chapter 11 Cases”) are pending in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) and are jointly administered. The April 16 Debtors and April 22 Debtors are collectively referred to in this report as the “Debtors”. As provided by the rules and regulations governing the Chapter 11 Cases, the Company, on behalf of the Debtors, has agreed to supply to the Bankruptcy Court a monthly report detailing the combined operations for the Debtors as of and for the previous month as well as cumulatively from the Petition Date. Such reports for each month are collectively referred to as the “Monthly Operating Reports”.

The Debtors own and operate approximately 166 regional shopping centers. A list of the Debtors and the properties affected by these Chapter 11 Cases (each an “Operating Property” and, collectively, the “Operating Properties”) is included as Annex A to the Monthly Operating Report filed on June 30, 2009 for the period ended May 31, 2009 (the “May MOR”). As many of the parties affected by, or interested in, the Chapter 11 Cases identify a Debtor by the Operating Property that it owns and/or manages, rather than by such Debtor’s legal name, where appropriate, the Company has reported information either on a by Debtor or on an Operating Property basis. For information regarding the Chapter 11 Cases preceding the filing of this monthly operating report, please see Note 1 of each of the respective previously filed Monthly Operating Reports.

Since the Petition Date, the Bankruptcy Court has granted various motions that allow the Company to continue to operate its business in the ordinary course without interruption during the Chapter 11 Cases covering, among other things, employee obligations and incentive compensation, critical service providers, tax matters, insurance matters, tenant and contractor obligations, claim settlements, ordinary course property sales, cash management and cash collateral. The Bankruptcy Court has ruled that until February 26, 2010, the Debtors have the exclusive right to file a plan of reorganization and, if they do so, they have until April 23, 2010 to obtain necessary acceptances of such plan. However, the Debtors have the right to request an extension of such exclusivity period to file a plan of reorganization until October 13, 2010, which extension is subject to the approval of the Bankruptcy Court.

As of the date of this report, the Bankruptcy Court has confirmed plans of reorganization for 214 Debtors (the “Track 1 Debtors”) owning 110 properties with approximately $11.55 billion of secured loans. The plans of reorganization (the “Track 1 Plans”), generally provide for, in exchange for payment of certain extension fees and cure of previously unpaid amounts due on the applicable mortgage loans (primarily, principal amortization otherwise scheduled to have been paid since the Petition Date), the extension of the secured mortgage loans at previously existing non-default interest rates. As a result of the extensions, the weighted average duration of the ninety-three loans associated with these properties is 6.3 years and the weighted average interest rate (including fees) is 5.56%. In addition, the Track 1 Plan provides for the payment in full of all undisputed claims of creditors of the Track 1 Debtors. Effectiveness of the Track 1 Plans and emergence from bankruptcy are subject to various conditions and approvals, including completion of definitive documentation and approval of the Class B noteholders or mezzanine holders in certain circumstances. Effectiveness of the plans of reorganization and emergence from bankruptcy of the Track 1 Debtors is expected to commence in December 2009 and continue through early 2010. The Chapter 11 Cases for the remaining Debtors will continue.

On December 18, 2009, the Bankruptcy Court approved the payment of a $0.19 per share dividend to holders of GGP common stock declared by the GGP Board of Directors. The dividend, comprised of a combination of cash and common stock, is payable on January 28, 2010 to stockholders of record on December 28, 2009. The stockholders may elect to receive payment of the dividend all in cash or all in common stock. The cash component of the dividend will not exceed 10% in the aggregate. To the extent that more than 10% of cash is elected, the cash portion will be prorated. Stockholders who do not make an election will receive 100% in common stock. The number of shares of common stock issued as a result of the dividend will be calculated based on the volume weighted average trading prices of GGP’s common stock on January 20, 21 and 22, 2010.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 2 Basis of Presentation

The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements for Chapter 11 debtors as required by the Office of the United States Trustee (the “U.S. Trustee”) and the Bankruptcy Court. As a result, only relevant financial information for the Debtors has been included in the information presented in the Monthly Operating Report. Accordingly, a significant number of legal entities owned and controlled by GGP, and the related assets, liabilities and operating results of such entities, have been excluded from this Monthly Operating Report as such entities are operating outside of the provisions of Chapter 11. The Debtors’ ownership interest in such excluded entities (the “Non-Debtors”) has been reflected as investment in controlled Non-Debtors at the Debtors’ ownership share (typically 100%). In addition, the applicable earnings/loss of such controlled Non-Debtor entities, along with the Debtors’ share of the applicable income/loss of Unconsolidated Real Estate Affiliates, has been included in the equity in income of Real Estate Affiliates. Further, in the Combined Condensed Statement of Income and Comprehensive Income, the operations for the Debtors are presented from each of their respective Petition Dates forward. As a result, the unaudited financial statements contained in this Monthly Operating Report are not and will not be consistent with the Company’s financial statement filings submitted to the United States Securities and Exchange Commission (the “SEC”) for this or any previous or future period.

The accompanying combined financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities of the Debtors in the normal course of business. In particular, as each of the Debtors is currently operating as a debtor-in-possession under the provisions of Chapter 11, these combined condensed financial statements have been prepared in accordance with the specialized accounting guidance for entities in reorganization under the Bankruptcy Code. Accordingly, the Debtors’ combined financial statements do not reflect any adjustments related to the recoverability of assets and satisfaction of liabilities that might be necessary should they be unable to continue as a going concern. However, such specialized guidance provides that all pre-petition liabilities subject to compromise (“LSTC” — see Note 5) have been segregated from liabilities not subject to compromise in the combined balance sheet and have been classified as LSTC, at the estimated amount of allowed claims. Interest expense related to pre-petition LSTC has been reported only to the extent that it is (i) estimated to be paid during the pendency of the Chapter 11 Cases, (ii) permitted by the Bankruptcy Court, or (iii) expected to be an allowed claim and may be paid or settled for less than the amount reported. In addition, to the extent any interest expense is unpaid, such accrued amounts may be paid or settled, in full or partially, in the form of equity and/or cash or any combination thereof. Expenses, provisions for losses resulting from the reorganization and certain other items directly related to the Chapter 11 Cases are reported separately in our combined condensed statement of operations as reorganization items (Note 7).

The unaudited financial statements for the Debtors contained in this Monthly Operating Report have been derived from the books and records of the Company. All significant intercompany balances and transactions between the Debtors have been eliminated. All intercompany balances with Non-Debtors are non-interest bearing (except to the extent such bearers are between taxable and non-taxable entities), unsecured, payable on demand and have been reflected as a component of equity. In addition, the financial information contained in such financial statements for the Debtors is preliminary and unaudited and does not purport to show the results of operations or statements of position in accordance with GAAP as, primarily, only normal recurring adjustments are made for the routine monthly closing of our books. Accordingly, certain reclassifications, eliminations, accruals, valuations, reserve adjustments and disclosure items may not have been made for such purposes of this Monthly Operating Report. If this information had been subject to the procedures performed to prepare our quarterly and annual financial information in accordance with GAAP and the rules and regulations of the SEC, we believe that the financial information could be subject to changes and such changes could be material. Therefore, there can be no assurance that the financial information contained in this Monthly Operating Report for the Debtors is complete and readers are strongly cautioned not to place undue reliance upon this or any previously submitted Monthly Operating Report.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

Readers of this Monthly Operating Report should refer to the Company’s audited Consolidated Financial Statements for the year ended December 31, 2008, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 (the “Annual Report”) and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2009 (the “2009 Interim Report”), as certain footnote disclosures that would substantially duplicate those contained in our Annual Report and such 2009 Interim Report have been omitted from this Monthly Operating Report. Capitalized terms used, but not defined, in this Monthly Operating Report have the same meaning as set forth in our Annual Report or in the 2009 Interim Report.

NOTE 3 Summary of Significant Accounting Policies

See Note 2 “Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements included in our Annual Report and Note 1 “Organization” in the Notes to Consolidated Financial Statements included in our 2009 Interim Report for a summary of the accounting policies that we consider to be significant.

NOTE 4 Cash and Cash Equivalents and Amounts Applicable to Debtor First-Lien Holders

In general, each of the Operating Properties collects cash receipts in a property-specific lockbox and such receipts are transferred daily to a centralized GGPLP cash management account from which cash disbursements are funded. Accordingly, none of the Debtors that directly or indirectly own specific Operating Properties disburse funds to outside parties; all such disbursements are made by GGPLP on behalf of such Debtors. Therefore, at any and all points in time, GGPLP maintains, for each Debtor, an individual net balance of all such cash transfers and disbursements made that pertain to such Debtor. This intercompany account between GGPLP and the respective Debtor is reconciled monthly. As described in Note 1, the Bankruptcy Court has approved the continuation of this centralized cash management system. Mortgage lenders to the Operating Properties were granted a lien on the centralized GGPLP cash management account. In addition, the Debtors agreed to maintain a cash reserve in such account equal to the net cash transferred from the Operating Properties subject to liens since the Petition Date.

On November 30, 2009, the aggregate cumulative post-petition intercompany amounts due (to) from GGPLP with respect to Debtors that own Operating Properties with mortgage lenders possessing the lien rights on the centralized GGPLP cash management account described above, were $428.8 million. In addition, as of December 24, 2009, the aggregate amount held in the combined GGPLP cash account upon which the first-lien holders have such lien rights was approximately $480.6 million.

All bank accounts, both property specific and centralized, are reconciled monthly. Highly-liquid investments with maturities at dates of purchase of three months or less are classified as cash equivalents. As part of the adequate protection being provided to lenders of the Operating Properties, the Debtors will continue to provide reporting information to those lenders as required by their individual loan agreements. The Debtors have agreed to provide such information to the Office of the United States Trustee on a confidential basis upon reasonable request.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 5 Certain Other Assets and Liabilities and Liabilities Subject to Compromise

The following table summarizes the significant components of prepaid expenses and other assets of the Debtors:


	November 30, 2009
	(In thousands)
Below-market ground leases	$	182,792
Prepaid expenses		79,776
Real estate tax stabilization agreement		71,934
Receivables — finance leases and bonds		69,728
Special Improvement District receivable		48,621
Security and escrow deposits		43,807
Above-market tenant leases		24,434
Deferred tax, net of valuation allowances		11,908
Other		13,753

Total prepaid expenses and other assets	$	546,753

The components of combined security and escrow deposits of the Debtors are summarized as follows:


	November 30, 2009
	(In thousands)
Utility and other security deposits	$	28,597
Operating funds — restricted		6,879
Construction/major maintenance reserves		4,241
Collateralized letters of credit and other credit support		1,908
Real estate tax escrows		379
Other miscellaneous escrows		1,803

Total security and escrow deposits	$	43,807

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

The following table summarizes the significant components of accounts payable and accrued expenses of the Debtors. Substantially all amounts included in the unpaid or accrued balances listed below that are considered LTSC are past due at November 30, 2009, as payment of any of such obligations are limited or precluded by the operation of Chapter 11 (see Schedule X).


	November 30, 2009
	(In thousands)
Accrued interest	$	349,743
Accounts payable and accrued expenses		298,342
Construction payable		144,886
Uncertain tax position liabilities		120,691
Deferred gains/income		80,597
Accrued payroll and other employee liabilities		76,808
Accrued real estate taxes		75,502
Hughes accrued participation		69,081
Below-market tenant leases		55,824
Unapplied cash receipts		40,972
Accounts payable to affiliates		(90,826	)
Other		188,664

Total accounts payable and accrued expenses		1,410,284
Less: amounts not subject to compromise		(735,374	)

Total accounts payable and accrued expenses subject to compromise	$	674,910

The following table summarizes the amounts of LSTC at November 30, 2009:


	(In thousands)
Mortgages and secured notes	$	15,839,482
Unsecured notes		5,994,186
Accounts payable and accrued expenses		674,910

Total liabilities subject to compromise	$	22,508,578

NOTE 6 Rejected Contracts and Related Matters

In addition to our mortgage and other debt, current liabilities and liens, the Debtors are subject to certain executory contracts. The Debtors, subject to the approval of the Bankruptcy Court, may assume or reject these contracts. Although the Debtors are considering the rejection of certain of such contracts (except for our operating property tenant leases), only one such contract, that of an unexpired lease of office space that was no longer occupied by the Debtors, has been rejected as of November 30, 2009. Additional contracts may have been rejected, or will be rejected, pursuant to the Track 1 Plan. Claims may result if an executory contract is rejected; however, no such potential claims have been recorded or reflected at this time. As of November 12, 2009, the Bankruptcy Court approved time period to assume or reject any unexpired lease where a Debtor is a lessee expired with no additional leases being rejected.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 7 General and Administrative Expenses and Reorganization Items

General and Administrative expenses consist of the centralized costs of managing the portfolio of assets owned by the Company, which includes the Debtors. Significant subcategories of such overhead costs are listed in the following schedule:


			Cumulative Post-
	Month Ended		Petition Period Ended
General and Administrative Expenses	November 30, 2009		November 30, 2009
	(In thousands)
Insider compensation	$	474	$	9,041
Public Company expense*		538		29,107
Travel, entertainment, insurance and other		463		2,902

Total general and administrative	$	1,475	$	41,050


*		This amount includes routine operating professional fees, including any fees incurred for “retained professionals”. Professional fees related to the Chapter 11 Cases are reported separately within reorganization items.

Reorganization items under the bankruptcy filings are expense and income items that were incurred or realized by the Debtors as a result of the Chapter 11 Cases and are presented separately in the unaudited condensed combined statement of operations of the Debtors. These items include professional fees and similar types of expenses incurred directly related to the bankruptcy filings, loss accruals or gains or losses resulting from activities of the reorganization process, and interest earned on cash accumulated by the Debtors. Reorganization items are as follows:


				Cumulative Post-
	Month Ended			Petition Period Ended
Reorganization Items income (expense)	November 30, 2009			November 30, 2009
	(In thousands)
Gains on liabilities subject to compromise ⁽¹⁾	$	(1,207	)	$	(6,737	)
Interest income ⁽²⁾		(6	)		(30	)
U.S. Trustee fees ⁽³⁾		345			3,726
Restructuring costs — Chapter 11 Retained Professionals ⁽⁴⁾		5,773			61,148
Restructuring costs — other professional fees ⁽⁵⁾		72			5,624

Total reorganization items	$	4,977		$	63,731


(1)		This amount primarily includes repudiation, rejection or termination of contracts or guarantee of obligations. At November 30, 2009, such cumulative gains reflect agreements reached with certain critical vendors (as defined), which were authorized by the Bankruptcy Court and for which certain payments on an installment basis began in July 2009.

(2)		Interest income primarily reflects amounts earned on cash accumulated as a result of the Chapter 11 Cases.

(3)		Estimate of fees due for applicable reporting periods remain subject to confirmation and review by the U.S. Trustee.

(4)		See Schedule VIII which sets forth those professionals whose retention was approved by separate order of the Bankruptcy Court. Certain of the retained professionals have agreements that provide for success or completion fees that are payable upon the consummation of specified restructuring or sale transactions.

(5)		These fees relate to costs incurred by the Debtors for services rendered by non-attorney, non-core Chapter 11 professionals.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE I
COMBINED CONDENSED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)


	Month Ended November 30, 2009
							Combined
	Debtors			Eliminations			Debtors
	(In thousands, except for per share amounts)
Revenues:
Minimum rents	$	141,216		$	(10	)	$	141,206
Tenant recoveries		62,657			—			62,657
Overage rents		5,776			—			5,776
Land sales		746			—			746
Other		6,414			—			6,414

Total revenues		216,809			(10	)		216,799

Expenses:
Real estate taxes		20,157			—			20,157
Repairs and maintenance		18,143			—			18,143
Marketing		3,625			—			3,625
Ground and other rents		928			4			932
Other property operating costs		25,708			(28	)		25,680
Land sales operations		1,511			—			1,511
Provision for doubtful accounts		75			—			75
Property management and other costs		9,300			29			9,329
General and administrative		1,489			(14	)		1,475
Provisions for impairment		—			—			—
Depreciation and amortization		50,700			—			50,700

Total expenses		131,636			(9	)		131,627

Operating income		85,173			(1	)		85,172

Interest (expense) income, net		(94,840	)		195			(94,645	)
(Loss) income before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(9,667	)		194			(9,473	)
Provision for income taxes		(1,831	)		—			(1,831	)
Equity in income of Real Estate Affiliates		155			10,734			10,889
Reorganization items		(4,977	)		—			(4,977	)

Net (loss) income		(16,320	)		10,928			(5,392	)
Allocation to noncontrolling interests		(1,067	)		75			(992	)

Net (loss) income attributable to common stockholders	$	(17,387	)	$	11,003		$	(6,384	)


Basic and Diluted Earnings Per Share:	$	(0.06	)	$	0.04		$	(0.02	)

Comprehensive Loss, Net:
Net (loss) income attributable to common stockholders	$	(17,387	)	$	11,003		$	(6,384	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		1,064			(24	)		1,040
Accrued pension adjustment		183			—			183
Foreign currency translation		(783	)		17			(766	)

Other comprehensive income (loss), net		464			(7	)		457

Comprehensive loss attributable to common stockholders	$	(16,923	)	$	10,996		$	(5,927	)

The accompanying notes are an integral part of these combined condensed financial statements.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE II
COMBINED CONDENSED BALANCE SHEET
(UNAUDITED)


	Month Ended November 30, 2009
							Combined
	Debtors			Eliminations			Debtors
				(In thousands)
Assets:
Investment in real estate:
Land	$	2,946,948		$	—		$	2,946,948
Buildings and equipment		19,475,610			—			19,475,610
Less accumulated depreciation		(4,074,153	)		—			(4,074,153	)
Developments in progress		852,507			(72,387	)		780,120

Net property and equipment		19,200,912			(72,387	)		19,128,525
Investment in and loans to/from Unconsolidated Real Estate Affiliates		610,519			(220,117	)		390,402
Investment property and property held for development and sale		1,116,106			72,126			1,188,232
Investment in controlled non-debtor entities		16,682,801			(12,700,176	)		3,982,625

Net investment in real estate		37,610,338			(12,920,554	)		24,689,784
Cash and cash equivalents		718,841			20,316			739,157
Accounts and notes receivable, net		332,173			—			332,173
Goodwill		205,257			—			205,257
Deferred expenses, net		238,635			—			238,635
Prepaid expenses and other assets		576,971			(30,218	)		546,753

Total assets	$	39,682,215		$	(12,930,456	)	$	26,751,759


Liabilities and Equity:
Mortgages, notes and loans payable	$	400,000		$	—		$	400,000
Investment in and loans to/from Unconsolidated Real Estate Affiliates		32,363			—			32,363
Deferred tax liabilities		906,021			—			906,021
Accounts payable and accrued expenses		757,938			(22,564	)		735,374

Total liabilities not subject to compromise		2,096,322			(22,564	)		2,073,758
Liabilities subject to compromise		22,989,432			(480,854	)		22,508,578

Total liabilities		25,085,754			(503,418	)		24,582,336


Redeemable noncontrolling interests:
Preferred		120,756			—			120,756
Common		23,254			12,432			35,686

Total redeemable noncontrolling interests		144,010			12,432			156,442


Commitments and Contingencies		—			—			—

Preferred Stock: $100 par value; 5,000,000 shares authorized; none issued and outstanding		—			—			—

Equity:
Common stock: $.01 par value; 875,000,000 shares authorized, 313,831,467 shares issued as of November 30, 2009		3,138			—			3,138
Additional paid-in capital		9,577,663			(5,783,672	)		3,793,991
Retained earnings (accumulated deficit)		4,938,034			(6,655,889	)		(1,717,855	)
Accumulated other comprehensive loss		(3,707	)		90			(3,617	)
Less common stock in treasury, at cost, 1,449,939 shares as of November 30, 2009		(76,752	)		—			(76,752	)

Total stockholder’s equity		14,438,376			(12,439,471	)		1,998,905
Noncontrolling interests in consolidated real estate affiliates		14,076			—			14,076

Total equity		14,452,452			(12,439,471	)		2,012,981

Total liabilities and equity	$	39,682,216		$	(12,930,457	)	$	26,751,759

The accompanying notes are an integral part of these combined condensed financial statements.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE III
SCHEDULE OF PAYROLL AND PAYROLL TAXES
(UNAUDITED)

as of and for the month ended November 30, 2009


Gross Wage	Employee Payroll	Employer Payroll
Expense	Taxes Withheld (a)	Taxes Remitted (b)
	(In thousands)
$15,741	$3,407	$854


(a)		Employee Payroll Taxes are withheld each pay period and remitted by the Company, together with the Employer Payroll Taxes, to the appropriate tax authorities.

(b)		Gross Wages are generally paid by the Company on behalf of the Debtors every two weeks, and were last paid in this period, including withholding amounts, on November 20, 2009.

SCHEDULE IV
SCHEDULE OF FEDERAL, STATE AND LOCAL TAXES
(UNAUDITED)


			Amounts Paid
	Amount Accrued		Month Ended
	November 30, 2009		November 30, 2009
	(In thousands)
Federal and state income taxes	$	2,996	$	—

State and local taxes:
Property *		75,502		31,463
Sales and use		1,487		1,331
Franchise		1,792		42
Other		68		50

Total state and local taxes		78,849		32,886

Total taxes	$	81,845	$	32,886


*		Additional detail on the property taxes by Operating Property is listed below.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
			Amount Paid
	Amount Accrued		Month Ended
Operating Property	November 30, 2009		November 30, 2009
	(In thousands)
10 COLUMBIA CORPORATE CENTER	$	—	$	—
10000 COVINGTON CROSS		—		—
10000 WEST CHARLESTON		—		—
10190 COVINGTON CROSS		—		—
1120/40 TOWN CENTER DRIVE		—		—
1160/80 TOWN CENTER DRIVE		—		—
1201/41 TOWN CENTER DR 2ND U3		—		—
1201/41 TOWN CENTER DRIVE		—		—
1240 ALA MOANA BLVD		—		—
1251/81 TOWN CENTER DRIVE		—		—
1290 ALA MOANA BLVD		—		—
1551 HILLSHIRE DRIVE		—		30
1635 VILLAGE CENTER CIRCLE		—		—
1645 VILLAGE CENTER CIRCLE		—		—
20 COLUMBIA CORPORATE CENTER		—		—
30 COLUMBIA CORPORATE CENTER		—		—
306 KAMANI STREET		—		—
324 KAMAUNI STREET		—		—
330 KAMANI STREET		—		—
40 COLUMBIA CORPORATE CENTER		—		—
404 WARD AVENUE		—		—
420 WARD AVENUE		—		—
4848 OUTPARCEL		19		—
50 COLUMBIA CORPORATE CENTER		—		—
506 AHUI STREET		—		—
532 AHUI STREET BUILDING		—		—
60 COLUMBIA CORPORATE CENTER		—		—
801 HALEKAUWILA STREET		—		—
834 POHUKAINA ST.		—		—
837 HALEKAUWILA STREET		—		—
849/863 HALEKAUWILA STREET		—		—
900 HALEKAUWILA STREET		—		—
955 KAWAIAHAO STREET		—		—
955 WAIMANU STREET		—		—
956 KAWAIAAHAO (PARK LOT)		—		—
956 QUEEN STREET		—		—
9901/21 COVINGTON CROSS		—		—
9950/80 COVINGTON CROSS		—		—
ALA MOANA CENTER		2,427		—
ALA MOANA PACIFIC CENTER		—		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
			Amount Paid
	Amount Accrued		Month Ended
Operating Property	November 30, 2009		November 30, 2009
	(In thousands)
ALA MOANA PLAZA		—		—
ALA MOANA TOWER		—		—
ALA MOANA-KAPIOLANI PROPERTIES		—		—
ALA MOANA-KONA STREET		—		—
ALAMEDA PLAZA		167		—
ANIMAS VALLEY MALL		94		114
APACHE MALL		—		—
ARIZONA CENTER		10		184
ARIZONA CENTER ARIZONA CENTER ONE		19		402
ARIZONA CENTER ARIZONA CENTER TWO		16		545
ARIZONA CENTER CINEMA		17		—
ARIZONA CENTER GARDEN OFFICE		4		—
ARIZONA CENTER OFFICE		10		—
ARIZONA CENTER OTHER		—		—
ARIZONA CENTER PARKING		13		113
ARIZONA CENTER-WEST PRKNG LOT		—		—
AUGUSTA MALL		—		638
AUGUSTA MALL ANCHOR ACQ		—		347
AUSTIN BLUFFS PLAZA		46		—
AUSTIN MALL LTD PARTNERSHIP		—		—
BAILEY HILL		—		20
BASKIN ROBBINS		6		—
BAY CITY MALL		—		—
BAYSHORE MALL		200		—
BEACHWOOD PLACE		3,580		—
BELLIS FAIR		—		54
BIRCHWOOD MALL		69		—
BOISE TOWN SQUARE ANCHOR ACQ		69		—
BOISE TOWNE PLAZA		193		—
BOISE TOWNE SQUARE		1,647		—
BRASS MILL CENTER		—		—
BRASS MILL COMMONS		—		—
BURLINGTON TOWN CENTER		—		147
BURLINGTON TOWN CENTER OFFICE		—		26
CACHE VALLEY MALL		—		248
CACHE VALLEY MARKETPLACE		—		109
CALENDONIAN HOLDING		—		—
CANYON POINT		—		—
CAPITAL MALL		282		—
CENTURY PLAZA		73		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
			Amount Paid
	Amount Accrued		Month Ended
Operating Property	November 30, 2009		November 30, 2009
	(In thousands)
CHAPEL HILLS MALL		1,144		—
CHICO MALL		206		—
CHULA VISTA CENTER		329		—
COLLIN CREEK		1,672		—
COLLIN CREEK-DILLARDS		—		—
COLONY SQUARE MALL		352		—
COLUMBIA BANK DRIVE THRU		—		—
COLUMBIA CENTER-C.A. BUILDING		—		—
COLUMBIA CENTER-EXHIBIT BLDG		—		—
COLUMBIA DEVELOPMENT CORPORATION		—		—
COLUMBIA MALL		514		—
COLUMBIANA CENTER		1,403		—
CORONADO MALL		318		385
CORPORATE POINTE #2		—		26
CORPORATE POINTE #3		—		38
COTTONWOOD MALL		—		283
COTTONWOOD SQUARE		—		41
COUNTRY HILL PLAZA		—		135
CROSSING BUSINESS CENTER #6		—		—
CROSSING BUSINESS CENTER #7		—		—
CROSSROADS CENTER (MN)		—		—
DEERBROOK MALL		1,305		—
DEERBROOK MALL ANCHOR ACQ		61		—
DIVISION CROSSING		—		235
DMV BUILDING		—		—
EAGLE RIDGE MALL		—		538
EASTRIDGE MALL (CA)		71		43
EASTRIDGE MALL (WY)		112		134
EDEN PRAIRIE CENTER		—		—
EDEN PRAIRIE CENTER ANCHOR ACQ		—		—
ELK GROVE PROMENADE		1,284		—
FALLBROOK CENTER		—		750
FANEUIL HALL MARKETPLACE		—		—
FANEUIL HALL MKTPL.-N.OFFICE		—		—
FANEUIL HALL MKTPL.-N.RETAIL		—		—
FANEUIL HALL MKTPL.-QUINCY		—		—
FANEUIL HALL MKTPL.-S.RETAIL		—		—
FANEUIL HALL OFFICE		—		—
FANUEUIL HALL MKTPL.-S.OFFICE		—		—
FASHION PLACE		5		904

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
				Amount Paid
	Amount Accrued			Month Ended
Operating Property	November 30, 2009			November 30, 2009
	(In thousands)
FASHION PLACE ANCHOR ACQ		—			—
FASHION SHOW		—			5
FIFTY COLUMBIA CORPORATE CTR, INC.		—			—
FOODMAKER, INC.		—			—
FOOTHILLS MALL		850			—
FORT UNION		—			66
FORTY COLUMBIA CORP CTR, INC.		—			—
FOUR SEASONS TOWN CENTRE MALL		—			—
FOUR STATE/TRC OF NEVADA		—			—
FOX RIVER MALL		1,317			—
FREMONT VILLAGE		—			—
GARDEN OFFICE BUILDING		—			—
GATEWAY CROSSING SHOPPING CTR		—			194
GATEWAY MALL		—			952
GGPLP-SHARED		1,038			446
GGPLP-VICTORIA WARD		—			—
GLENBROOK SQUARE		4,106			2,319
GLENBROOK SQUARE ANCHOR ACQ		120			—
GRAND TETON MALL		729			—
GRAND TETON PLAZA		164			—
GRAND TRAVERSE MALL		59			—
GREENGATE MALL, INC.		—			—
GREENWOOD MALL		70			—
HALEKAUWILA BUILDING		—			—
HALSEY CROSSING		—			75
HARBORPLACE		—			—
COLUMBIA HRD BENSON LEASES		—			—
HUGHES SUMMERLIN OTHER		—			—
HULEN MALL		1,839			—
JORDAN CREEK TOWN CENTER		3,898			—
JP REALTY ADJUSTMENTS		—			—
KADOWAKI, JAY		—			—
KAMAKEE BUILDING		—			—
KAMANI BUILDING		—			—
KENDALL TOWN CENTER		(860	)		860
KLING TRUST (CLIFFORD ET AL)		—			—
KNOLLWOOD MALL		—			—
LAKEMOOR		—			—
LAKESIDE MALL		—			—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
				Amount Paid
	Amount Accrued			Month Ended
Operating Property	November 30, 2009			November 30, 2009
	(In thousands)
LAKEVIEW SQUARE		163			—
LANDMARK MALL		—			244
LANSING MALL		378			—
LINCOLNSHIRE COMMONS		384			—
LOCKPORT MALL		—			—
LYNNHAVEN MALL		—			1,237
MALL AT SIERRA VISTA		181			—
MALL OF LOUISIANA		839			—
MALL OF LOUSIANA POWER CENTER		134			—
MALL OF THE BLUFFS		1,996			—
MALL ST. MATHEWS		—			684
MALL ST. VINCENT		573			—
MARKET PLACE SHOPPING CENTER		1,533			—
MAYFAIR BANK TOWER		282			—
MAYFAIR MALL		4,070			—
MAYFAIR NORTH TOWER		295			—
MAYFAIR PROFESSIONAL		112			—
MAYFAIR-AURORA HEALTH CENTER		268			—
MONDAWMIN MALL		—			—
MONDAWMIN MALL-OFFICE		—			—
MORENO VALLEY MALL		214			—
NATICK-NOUVELLE AT NATICK		(399	)		—
NEIGHBORHOOD STORES		—			—
NEWGATE MALL		—			723
NEWPARK MALL		33			38
NEWPARK MALL ANCHOR ACQ		—			—
NORTH PLAINS MALL		24			—
NORTH POINT MALL		2,196			—
NORTH STAR MALL		1,415			1,927
NORTH STAR MALL ANCHOR ACQ		174			—
NORTH TOWN MALL		—			15
NORTHGATE MALL		594			—
NORTHRIDGE FASHION CENTER		36			1,173
OAKWOOD CENTER		419			—
OAKWOOD MALL		1,083			—
OGLETHORPE MALL		—			439
OREM PLAZA CENTER STREET		—			71
OREM PLAZA STATE STREET		—			35
OTHER HUGHES PROPERTIES		—			—
OVIEDO MARKETPLACE		—			659
OWINGS MALL		—			—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
				Amount Paid
	Amount Accrued			Month Ended
Operating Property	November 30, 2009			November 30, 2009
	(In thousands)
OWINGS MILLS-OFFICE ALLOCATIONS		—			—
OXMOOR MALL		(38	)		729
PARK CITY CENTER		—			—
PARK MEADOWS		—			—
PARK PLACE		544			—
PARK WEST		364			227
PEACHTREE MALL		—			844
PECANLAND MALL		584			—
PECANLAND MALL ANCHOR ACQ		46			—
PIEDMONT MALL		—			117
PIERRE BOSSIER MALL		216			—
PINE RIDGE MALL		417			—
PIONEER PLACE		—			2,178
PIONEER PLACE LP EXPANSION		—			—
PIONEER TOWER		—			—
PIONEER TOWER GARAGE		—			—
PLAZA 800		—			—
PLAZA 9400		—			147
POHUKAINA CENTER		—			—
POHUKAINA COURT		—			—
PRICE NT CORP		—			—
PRINCE KUHIO PLAZA		—			—
PROVIDENCE PLACE		—			—
PROVO PLAZA		—			43
RED CLIFFS MALL		—			269
RED CLIFFS PLAZA		—			60
REDLANDS PROMENADE		92			—
REGENCY SQUARE MALL		—			1,556
RIDGEDALE CENTER		—			—
RIDGLEY BUILDING		—			—
RIO WEST MALL		88			106
RIVER FALLS		692			760
RIVER HILLS MALL		1,463			—
RIVER POINTE PLAZA		—			95
RIVERLANDS SHOPPING CENTER		53			—
RIVERSIDE PLAZA		—			151
RIVERTOWN CROSSINGS		67			—
ROGUE VALLEY MALL		—			806
SAINT LOUIS GALLERIA		3,488			—
SALEM CENTER		—			548
SIKES SENTER		1,107			—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
			Amount Paid
	Amount Accrued		Month Ended
Operating Property	November 30, 2009		November 30, 2009
	(In thousands)
SILVER LAKE MALL		219		—
SOONER MALL		366		—
SOUTH STREET MARKETPLACE THEAT		162		—
SOUTH STREET SEAPORT		—		—
SOUTHLAKE MALL		—		1,097
SOUTHLAND CENTER (MI)		—		—
SOUTHLAND MALL (CA)		—		—
SOUTHSHORE MALL		—		—
SOUTHWEST OFF CTR I		155		—
SOUTHWEST OFF CTR II		48		—
SOUTHWEST PLAZA		2,096		—
SPRING HILL MALL		2,100		—
ST LOUIS GALLERIA ANCH ACQ		70		—
STATEN ISLAND ALLOCATION-B		—		—
STATEN ISLAND MALL		—		—
STATEN ISLAND MALL CENTER, INC		—		—
STATEN ISLAND MALL PHASE I		—		—
STATEN ISLAND MALL PHASE II		—		—
STATEN ISLAND THE CROSSINGS		—		—
STATEN ISLAND-ALLOCATION A		—		—
STEEPLEGATE MALL		—		—
STONESTOWN GALLERIA		—		—
STONESTOWN MEDICAL BUILDING		—		—
THE BOULEVARD MALL		—		—
THE BRIDGES AT MINT HILL		18		—
THE COMMONS AT FOOTHILLS MALL		29		—
THE CROSSROADS (MI)		—		—
THE GALLERY AT HARBORPLACE		—		—
THE GALLERY AT HARBORPLACE-GARAGE		1,059		—
THE GALLERY AT HARBORPLACE-OFFICE		—		—
THE GALLERY AT HARBORPLACE-OTHER		—		—
THE GRAND CANAL SHOPPES		—		—
THE HUGHES CORPORATION		—		—
THE MAINE MALL		34		925
THE PINES		90		—
THE PLAZA AT FOOTHILLS MALL		70		—
THE SHOPPES AT DETROIT GATEWAY		—		—
THE SHOPPES AT THE PALAZZO		—		—
THE SHOPS AT FALLEN TIMBERS		1,670		—
THE SHOPS AT FOOTHILLS MALL		112		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
				Amount Paid
	Amount Accrued			Month Ended
Operating Property	November 30, 2009			November 30, 2009
	(In thousands)
THE SHOPS AT SUMMERLIN CENTRE		—			264
THE VILLAGE AT REDLANDS		—			—
THE VILLAGE OF CROSS KEYS		—			4
THE VILLAGE OF CROSS KEYS OFFICE		—			—
THE WOODLANDS MALL		1,456			—
THE WOODLANDS MALL ANCHOR ACQ		85			—
THHC LAND (WOBU)		—			—
THREE RIVERS MALL		—			—
TOWN EAST MALL		3,262			—
TRCLP		—			—
TRCLP OPER PROP ADJ		—			—
TRCLP-SOLD/CLOSED		—			—
TRS — PARK WEST		—			—
TRS 9		—			—
TRS1 LAND ADJUSTMENT		—			—
TRS2-SOLD PROPERTIES		—			—
TRS3-SOLD PROPERTIES		—			—
TRS5-SOLD PROPERTIES		—			—
TUCSON ANCHOR ACQ		27			—
TUCSON ENTERTAINMENT PAVILION		17			—
TUCSON MALL		401			—
TWINS FALLS CROSSINGS		31			—
TYSONS GALLERIA		—			1,221
UNIVERSITY CROSSING		—			243
VALLEY HILLS MALL		445			—
VALLEY PLAZA ANCHOR ACQ		—			—
VALLEY PLAZA MALL		492			—
VCK ALLOCATION		—			—
VCK ALLOCATION-ALL		—			—
VCK CROSS KEYS INN		—			—
VICTORIA WARD ADJ		—			—
VICTORIA WARD SHARED OPERATION		(26	)		—
VILLAGE AT JORDAN CREEK		1,024			—
VILLAGE SQUARE-RETAIL PH III		—			—
VISALIA MALL		184			5
VISTA COMMONS		—			—
VISTA RIDGE MALL		1,909			—
WARD ENTERTAINMENT CENTER		—			1
WARD PLAZA		—			1
WASHINGTON PARK MALL		145			—
WEST VALLEY MALL		306			118
WESTWOOD MALL		26			—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)


	Property Tax
			Amount Paid
	Amount Accrued		Month Ended
Operating Property	November 30, 2009		November 30, 2009
	(In thousands)
WHITE MARSH MALL		—		10
WHITE MOUNTAIN MALL		45		54
WILLOWBROOK MALL (NJ)		—		233
WOODBRIDGE CENTER		—		—
WOODLANDS VILLAGE		44		—
YELLOWSTONE SQUARE		84		—
LUFKIN MALL		—		—

	$	75,502	$	31,463

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
South Street Seaport Limited Partnership		09-11963	$	724
Seaport Marketplace, LLC		09-11964		—
Seaport Marketplace Theatre, LLC		09-11965		6
Lockport L.L.C.		09-11966		2
RASCAP Realty, Ltd.		09-11967		—
Bellis Fair Partners		09-11968		616
GGP-Mint Hill L.L.C.		09-11969		—
Pines Mall Partners		09-11970		162
GGP-Grandville L.L.C.		09-11971		1,004
GGP-Grandville II L.L.C.		09-11972		—
GGP-Redlands Mall, L.P.		09-11973		45
La Place Shopping, L.P.		09-11974		179
GGP-Tucson Land L.L.C.		09-11975		4
Tucson Anchor Acquisition, LLC		09-11976		185
General Growth Properties, Inc.		09-11977		—
GGP Limited Partnership		09-11978		35,117
Rouse LLC		09-11979		—
GGP American Properties Inc.		09-11980		—
Caledonian Holding Company, Inc.		09-11981		—
GGPLP L.L.C.		09-11982		—
Rouse Company LP, The		09-11983		2,892
TRC Co-Issuer, Inc.		09-11984		—
Oakwood Shopping Center Limited Partnership		09-11985		467
Alameda Mall Associates		09-11986		495
Bay Shore Mall Partners		09-11987		300
Chico Mall, L.P.		09-11988		450
Lansing Mall Limited Partnership		09-11989		325
GGP-Pecanland, L.P.		09-11990		415
GGP-Pecanland II, L.P.		09-11991		—
Southland Mall, L.P.		09-11992		879
South Shore Partners, L.P.		09-11993		39
Price Financing Partnership, L.P.		09-11994		—
Price GP L.L.C.		09-11995		—
HHP Government Services, Limited Partnership		09-11996		—
Ho Retail Properties I Limited Partnership		09-11997		265
New Orleans Riverwalk Associates		09-11998		337
New Orleans Riverwalk Limited Partnership		09-11999		—
White Marsh General Partnership		09-12000		685
White Marsh Mall Associates		09-12001		685
White Marsh Phase II Associates		09-12002		685

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
Parke West, LLC		09-12003		281
GGP-Newpark L.L.C.		09-12004		495
Elk Grove Town Center, L.P.		09-12005		39
Baltimore Center Associates Limited Partnership		09-12006		1,254
Baltimore Center Garage Limited Partnership		09-12007		87
Century Plaza L.L.C.		09-12008		36
Harbor Place Associates Limited Partnership		09-12009		336
Price Development Company, Limited Partnership		09-12010		369
Rouse-Phoenix Theatre Limited Partnership		09-12011		6
Rouse-Arizona Retail Center Limited Partnership		09-12012		451
Rouse-Phoenix Master Limited Partnership		09-12013		—
Saint Louis Land L.L.C.		09-12014		—
Southland Center, LLC		09-12015		937
GGP-North Point Land L.L.C.		09-12016		—
Majestic Partners-Provo, LLC		09-12017		49
GGP-Mall of Louisiana, L.P.		09-12018		3,795
NewPark Anchor Acquisition, LLC		09-12019		—
Parkview Office Building Limited Partnership		09-12020		47
Parkside Limited Partnership		09-12021		27
Park Square Limited Partnership		09-12022		101
Rouse SI Shopping Center, LLC		09-12023		2,226
Augusta Mall, LLC		09-12024		1,883
Burlington Town Center LLC, The		09-12025		462
Fashion Show Mall LLC		09-12026		4,414
GGP Ala Moana L.L.C.		09-12027		9,740
GGP Jordan Creek L.L.C.		09-12028		1,119
GGP Village at Jordan Creek L.L.C.		09-12029		15
GGP-Four Seasons L.L.C.		09-12030		789
Lincolnshire Commons, LLC		09-12031		221
Phase II Mall Subsidiary, LLC		09-12032		2,277
St. Cloud Mall L.L.C.		09-12033		729
Valley Hills Mall L.L.C.		09-12034		463
GGP Holding, Inc.		09-12035		212
The Rouse Company BT, LLC		09-12036		—
Rouse Company Operating Partnership LP, The		09-12037		—
10000 West Charleston Boulevard, LLC		09-12040		177
10190 Covington Cross, LLC		09-12041		14
1120/1140 Town Center Drive, LLC		09-12042		51
1160/1180 Town Center Drive, LLC		09-12043		26
1201-1281 Town Center Drive, LLC		09-12044		41

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
1251 Center Crossing, LLC		09-12045		—
1450 Center Crossing Drive, LLC		09-12046		11
1451 Center Crossing Drive, LLC		09-12047		5
1551 Hillshire Drive, LLC		09-12048		150
1635 Village Centre Circle, LLC		09-12049		14
1645 Village Center Circle, LLC		09-12050		41
9901-9921 Covington Cross, LLC		09-12051		5
9950-9980 Covington Cross, LLC		09-12052		6
Alameda Mall, L.L.C.		09-12053		—
Apache Mall, LLC		09-12054		321
Arizona Center Parking, LLC		09-12055		167
Augusta Mall Anchor Acquisition, LLC		09-12056		361
Augusta Mall Anchor Holding, LLC		09-12057		—
Augusta Mall Holding, LLC		09-12058		—
Austin Mall Limited Partnership		09-12059		—
Austin Mall, LLC		09-12060		—
Bakersfield Mall, Inc.		09-12061		—
Bakersfield Mall LLC		09-12062		3,003
Baltimore Center, LLC		09-12063		—
Bay City Mall Associates L.L.C.		09-12064		227
Bay Shore Mall II L.L.C.		09-12065		—
Bay Shore Mall, Inc.		09-12066		—
Beachwood Place Holding, LLC		09-12067		—
Beachwood Place Mall, LLC		09-12068		1,470
Benson Park Business Trust		09-12069		—
Birchwood Mall, LLC		09-12070		105
Boise Mall, LLC		09-12071		1,015
Boise Town Square Anchor Acquisition, LLC		09-12072		1
Boise Towne Plaza L.L.C.		09-12073		53
Boulevard Associates		09-12074		758
Boulevard Mall, Inc.		09-12075		—
Boulevard Mall I LLC		09-12076		—
Boulevard Mall II LLC		09-12077		—
BTS Properties L.L.C.		09-12078		—
Cache Valley, LLC		09-12079		432
Century Plaza, Inc.		09-12080		—
Champaign Market Place L.L.C.		09-12081		721
Chapel Hills Mall L.L.C.		09-12082		818
Chattanooga Mall, Inc.		09-12083		—
Chico Mall L.L.C.		09-12084		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
Chula Vista Center, LLC		09-12085		285
Collin Creek Anchor Acquisition, LLC		09-12086		—
Collin Creek Mall, LLC		09-12087		630
Colony Square Mall L.L.C.		09-12088		116
Columbia Mall L.L.C.		09-12089		1,498
Coronado Center L.L.C.		09-12090		1,481
Coronado Center Holding L.L.C.		09-12091		—
Cottonwood Mall, LLC		09-12092		487
Country Hills Plaza, LLC		09-12093		215
Deerbrook Mall, LLC		09-12094		1,319
DK Burlington Town Center LLC		09-12095		—
Eagle Ridge Mall, Inc.		09-12096		—
Eagle Ridge Mall, L.P.		09-12097		1,039
Eastridge Shopping Center L.L.C.		09-12098		1,323
Eden Prairie Anchor Building L.L.C.		09-12099		6
Eden Prairie Mall, Inc.		09-12100		—
Eden Prairie Mall L.L.C.		09-12101		596
Elk Grove Town Center L.L.C.		09-12102		—
ER Land Acquisition L.L.C.		09-12103		—
Fallbrook Square Partners Limited Partnership		09-12104		1,281
Fallbrook Square Partners L.L.C.		09-12105		—
Fallen Timbers Shops, LLC		09-12106		252
Fallen Timbers Shops II, LLC		09-12107		—
Faneuil Hall Marketplace, LLC		09-12108		1,262
Fashion Place, LLC		09-12109		2,761
Fashion Place Anchor Acquisition, LLC		09-12110		—
Fifty Columbia Corporate Center, LLC		09-12111		—
Forty Columbia Corporate Center, LLC		09-12112		—
Fox River Shopping Center, LLC		09-12113		1,370
Franklin Park Mall, LLC		09-12114		—
Franklin Park Mall Company, LLC		09-12115		—
Gateway Crossing L.L.C.		09-12116		266
Gateway Overlook Business Trust		09-12117		424
Gateway Overlook II Business Trust		09-12118		—
GGP Acquisition, L.L.C.		09-12119		—
GGP Ala Moana Holdings L.L.C.		09-12120		—
GGP American Holdings Inc.		09-12121		—
GGP General II, Inc.		09-12122		—
GGP Holding II, Inc.		09-12123		—
GGP Holding Services, Inc.		09-12124		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
GGP Ivanhoe II, Inc.		09-12125		—
GGP Ivanhoe IV Services, Inc.		09-12126		—
GGP Kapiolani Development L.L.C.		09-12127		29
GGP Knollwood Mall, LP		09-12128		401
GGP Natick Residence LLC		09-12129		417
GGP Savannah L.L.C.		09-12130		—
GGP/Homart, Inc.		09-12131		12
GGP/Homart Services, Inc.		09-12132		—
GGP-Bay City One, Inc.		09-12133		—
GGP-Brass Mill, Inc.		09-12134		1,038
GGP-Burlington L.L.C.		09-12135		—
GGP-Canal Shoppes L.L.C.		09-12136		—
GGP-Foothills L.L.C.		09-12137		189
GGP-Glenbrook L.L.C.		09-12138		3,315
GGP-Glenbrook Holding L.L.C.		09-12139		3
GGP-Grandville Land L.L.C.		09-12140		—
GGP-La Place, Inc.		09-12141		—
GGP-Lakeview Square, Inc.		09-12142		—
GGP-Lansing Mall, Inc.		09-12143		—
GGP-Maine Mall L.L.C.		09-12144		2,026
GGP-Maine Mall Holding L.L.C.		09-12145		—
GGP-Maine Mall Land L.L.C.		09-12146		—
GGP-Moreno Valley, Inc.		09-12147		754
GGP-Newgate Mall, LLC		09-12148		1,178
GGP-Newpark, Inc.		09-12149		—
GGP-North Point, Inc.		09-12150		1,270
GGP-Pecanland, Inc.		09-12151		—
GGP-Redlands Mall L.L.C.		09-12152		—
GGP-South Shore Partners, Inc.		09-12153		—
GGP-Steeplegate, Inc.		09-12154		133
GGP-Tucson Mall L.L.C.		09-12155		961
GGP-UC L.L.C.		09-12156		317
Grand Canal Shops II, LLC		09-12157		2,843
Grandville Mall II, Inc.		09-12158		—
Grandville Mall, Inc.		09-12159		—
Greengate Mall, Inc.		09-12160		—
Greenwood Mall Land, LLC		09-12161		—
Harborplace Borrower, LLC		09-12162		—
Hickory Ridge Village Center, Inc.		09-12163		—
HMF Properties, LLC		09-12164		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
Ho Retail Properties II Limited Partnership		09-12165		109
Hocker Oxmoor, LLC		09-12166		1,255
Hocker Oxmoor Partners, LLC		09-12167		—
Howard Hughes Canyon Pointe Q4, LLC		09-12168		34
Howard Hughes Corporation, The		09-12169		302
Howard Hughes Properties, Inc.		09-12170		2,109
Howard Hughes Properties, Limited Partnership		09-12171		14
Howard Hughes Properties IV, LLC		09-12172		29
Howard Hughes Properties V, LLC		09-12173		42
HRD Parking, Inc.		09-12174		3
HRD Remainder, Inc.		09-12175		—
Hulen Mall, LLC		09-12176		706
Hughes Corporation, The		09-12177		—
Kapiolani Condominium Development, LLC		09-12178		—
Kapiolani Retail, LLC		09-12179		—
Knollwood Mall, Inc.		09-12180		—
Lakeside Mall Holding, LLC		09-12181		—
Lakeside Mall Property LLC		09-12182		1,040
Lakeview Square Limited Partnership		09-12183		388
Land Trust No. 89433		09-12184		—
Land Trust No. 89434		09-12185		—
Land Trust No. FHB-TRES 200601		09-12186		—
Land Trust No. FHB-TRES 200602		09-12187		—
Landmark Mall L.L.C.		09-12188		391
Lynnhaven Holding L.L.C.		09-12189		—
Lynnhaven Mall L.L.C.		09-12190		2,682
Mall of Louisiana Holding, Inc.		09-12191		—
Mall of Louisiana Land, LP		09-12192		11
Mall of Louisiana Land Holding, LLC		09-12193		—
Mall of the Bluffs, LLC		09-12194		114
Mall St. Matthews Company, LLC		09-12195		—
Mall St. Vincent, Inc.		09-12196		—
Mall St. Vincent, L.P.		09-12197		390
Mayfair Mall, LLC		09-12198		620
MSAB Holdings, Inc.		09-12199		—
MSAB Holdings L.L.C.		09-12200		—
MSM Property L.L.C.		09-12201		1,450
Natick Retail, LLC		09-12202		—
Newgate Mall Land Acquisition, LLC		09-12203		—
NewPark Mall L.L.C.		09-12204		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
North Plains Mall, LLC		09-12205		17
North Star Anchor Acquisition, LLC		09-12206		67
North Star Mall, LLC		09-12207		3,420
North Town Mall, LLC		09-12208		292
Northgate Mall L.L.C.		09-12209		306
NSMJV, LLC		09-12210		—
Oakwood Hills Mall, LLC		09-12211		398
Oglethorpe Mall L.L.C.		09-12212		1,441
Oklahoma Mall L.L.C.		09-12213		—
OM Borrower, LLC		09-12214		—
One Willow Company, LLC		09-12215		—
Orem Plaza Center Street, LLC		09-12216		—
Owings Mills Limited Partnership		09-12217		151
Park Mall, Inc.		09-12218		—
Park Mall L.L.C.		09-12219		1,138
PDC Community Centers L.L.C.		09-12220		942
PDC-Eastridge Mall L.L.C.		09-12221		607
PDC-Red Cliffs Mall L.L.C.		09-12222		467
Peachtree Mall L.L.C.		09-12223		1,433
Pecanland Anchor Acquisition, LLC		09-12224		—
Piedmont Mall, LLC		09-12225		438
Pierre Bossier Mall, LLC		09-12226		181
Pine Ridge Mall L.L.C.		09-12227		192
Pioneer Office Limited Partnership		09-12228		172
Pioneer Place Limited Partnership		09-12229		2,401
Price Development TRS, Inc.		09-12230		—
Price-ASG L.L.C.		09-12231		1,182
Prince Kuhio Plaza, Inc.		09-12232		—
Providence Place Holdings, LLC		09-12233		—
Redlands Land Acquisition Company L.L.C.		09-12234		—
Redlands Land Acquisition Company, L.P.		09-12235		—
Redlands Land Holding L.L.C.		09-12236		—
Ridgedale Center, LLC		09-12237		1,100
Rio West L.L.C.		09-12238		220
River Falls Mall, LLC		09-12239		787
River Hills Land, LLC		09-12240		—
River Hills Mall, LLC		09-12241		607
Rogue Valley Mall L.L.C.		09-12242		1,085
Rogue Valley Mall Holding L.L.C.		09-12243		—
The Rouse Company at Owings Mills, LLC		09-12244		—

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
Rouse Company of Florida, LLC, The		09-12245		—
The Rouse Company of Louisiana, LLC		09-12246		—
The Rouse Company of Michigan, LLC		09-12247		—
The Rouse Company of Minnesota, LLC		09-12248		—
The Rouse Company of Ohio, LLC		09-12249		—
Rouse F.S., LLC		09-12250		—
Rouse Office Management of Arizona, LLC		09-12251		—
Rouse Providence LLC		09-12252		2,143
Rouse Ridgedale, LLC		09-12253		—
Rouse Ridgedale Holding, LLC		09-12254		—
Rouse Southland, LLC		09-12255		—
Rouse-Arizona Center, LLC		09-12256		—
Rouse-Fairwood Development Corporation		09-12257		1
Rouse-New Orleans, LLC		09-12258		—
Rouse-Oakwood Shopping Center, LLC		09-12259		—
Rouse-Orlando, LLC		09-12260		1,094
Rouse-Phoenix Cinema, LLC		09-12261		—
Rouse-Phoenix Corporate Center Limited Partnership		09-12262		578
Rouse-Phoenix Development Company, LLC		09-12263		—
Rouse-Portland, LLC		09-12264		—
RS Properties Inc.		09-12265		2,397
Saint Louis Galleria L.L.C.		09-12266		1,544
Saint Louis Galleria Anchor Acquisition, LLC		09-12267		1
Saint Louis Galleria Holding L.L.C.		09-12268		—
Sierra Vista Mall, LLC		09-12269		95
Sikes Senter, LLC		09-12270		471
Silver Lake Mall, LLC		09-12271		142
Sixty Columbia Corporate Center, LLC		09-12272		—
Sooner Fashion Mall L.L.C.		09-12273		521
Southlake Mall L.L.C.		09-12274		1,856
Southland Center Holding, LLC		09-12275		—
Southland Mall, Inc.		09-12276		—
Southwest Denver Land L.L.C.		09-12277		—
Southwest Plaza L.L.C.		09-12278		266
Spring Hill Mall L.L.C.		09-12279		130
St. Cloud Land L.L.C.		09-12280		—
St. Cloud Mall Holding L.L.C.		09-12281		—
Stonestown Shopping Center L.L.C.		09-12282		—
Stonestown Shopping Center, L.P.		09-12283		1,604
Summerlin Centre, LLC		09-12284		267

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
Summerlin Corporation		09-12285		—
Three Rivers Mall L.L.C.		09-12286		161
Three Willow Company, LLC		09-12287		—
Town East Mall, LLC		09-12288		853
Tracy Mall, Inc.		09-12289		—
Tracy Mall Partners, L.P.		09-12290		498
Tracy Mall Partners I L.L.C.		09-12291		—
Tracy Mall Partners II, L.P.		09-12292		—
TRC Willow, LLC		09-12293		—
TV Investment, LLC		09-12294		—
Two Arizona Center, LLC		09-12295		630
Two Willow Company, LLC		09-12296		—
Tysons Galleria L.L.C.		09-12297		2,787
U.K.-American Properties, Inc.		09-12298		2,557
Valley Hills Mall, Inc.		09-12299		—
Valley Plaza Anchor Acquisition, LLC		09-12300		293
VCK Business Trust		09-12301		326
Victoria Ward Center L.L.C.		09-12302		119
Victoria Ward Entertainment Center L.L.C.		09-12303		95
Victoria Ward, Limited		09-12304		1,384
Victoria Ward Services, Inc.		09-12305		—
Village of Cross Keys, LLC, The		09-12306		40
Visalia Mall L.L.C.		09-12307		—
Vista Commons, LLC		09-12308		30
Visalia Mall, L.P.		09-12309		253
Vista Ridge Mall, LLC		09-12310		768
VW Condominium Development, LLC		09-12311		—
Ward Gateway-Industrial-Village, LLC		09-12312		118
Ward Plaza-Warehouse, LLC		09-12313		220
Weeping Willow RNA, LLC		09-12314		—
West Kendall Holdings, LLC		09-12315		2,030
Westwood Mall, LLC		09-12316		99
White Marsh Mall, LLC		09-12317		—
White Mountain Mall, LLC		09-12318		128
Willow SPE, LLC		09-12319		—
Willowbrook II, LLC		09-12320		—
Willowbrook Mall, LLC		09-12321		1,440
Woodbridge Center Property, LLC		09-12322		1,561
Woodlands Mall Associates, LLC, The		09-12323		1,592
10000 Covington Cross, LLC		09-12324		3

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)


			Disbursements
			Month Ended
Legal Entity	Case Number		November 30, 2009
			(In thousands)
10 CCC Business Trust		09-12457		24
20 CCC Business Trust		09-12458		34
30 CCC Business Trust		09-12459		51
Capital Mall L.L.C.		09-12462		210
GGP-Columbiana Trust		09-12464		184
GGP-Gateway Mall L.L.C.		09-12467		1,399
Grand Traverse Mall Partners, LP		09-12469		566
Greenwood Mall L.L.C.		09-12471		537
Kalamazoo Mall L.L.C.		09-12472		635
Lancaster Trust		09-12473		885
Mondawmin Business Trust		09-12474		1,998
Running Brook Business Trust		09-12475		—
Town Center East Business Trust		09-12476		27
Burlington Town Center II LLC		09-12477		—
GGP-Mall of Louisiana, Inc.		09-12478		—
Stonestown Shopping Center Holding L.L.C.		09-12479		—
Capital Mall, Inc.		09-12480		—
GGP-Gateway Mall, Inc.		09-12481		—
GGP-Mall of Louisiana II, L.P.		09-12482		—
Grand Traverse Mall Holding, Inc.		09-12483		—
Greenwood Mall, Inc.		09-12484		—
Kalamazoo Mall, Inc.		09-12485		—
Parcit-IIP Lancaster Venture		09-12486		—
Parcity L.L.C.		09-12487		—
Parcity Trust		09-12488		—
Park City Holding, Inc.		09-12489		—
PC Lancaster L.L.C.		09-12490		—
PC Lancaster Trust		09-12491		—

			$	189,691

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VI
SCHEDULE OF DEBTORS’ OPERATING PROPERTY
AGED TENANT ACCOUNTS RECEIVABLE
(UNAUDITED)


	November 30, 2009
	(In thousands)
Current	$	(30,769)	*
31 - 60 days		7,904
61 - 90 days		6,866
91 - 120 days		304
Over 120 days		49,305

Gross Amount	$	33,610


*		In general, reflects tenant rents paid in advance.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VII
STATUS OF MORTGAGES PAYABLE FOR DEBTORS
(UNAUDITED)


						Total Debt Balance		Interest Expense
Property	Maturity Date		Rate (a)			November 30, 2009		Month Ended November 30 (b)
						(Dollars in thousands)
Fixed Rate Loans
Secured Asset Loans:
10000 West Charleston		3/1/2011		7.88	%	$	21,772	$	143
1160/80 Town Center		7/15/2013		6.99	%		8,803		51
Ala Moana A1		9/1/2011		5.52	%		750,000		3,451
Ala Moana A2		9/1/2011		5.65	%		750,000		3,532
Augusta Mall		11/11/2011		5.49	%		175,000		800
Baltimore Center Garage Ltd Partnership		6/1/2018		6.05	%		16,092		81
Bay City		12/2/2013		5.30	%		24,120		107
Bayshore		9/1/2011		7.13	%		31,005		184
Beachwood Place		4/7/2011		5.60	%		240,164		1,121
Bellis Fair		2/15/2016		7.34	%		61,586		377
Boise Towne Plaza		7/9/2010		4.70	%		10,921		43
Boise Towne Square		2/10/2011		6.64	%		70,738		391
Brass Mill		4/11/2014		4.55	%		123,593		469
Burlington		7/1/2010		5.03	%		26,000		109
Burlington 2 (*)		7/1/2010		6.30	%		5,500		29
Capital		4/1/2011		7.28	%		20,291		123
Chapel Hills		10/11/2010		5.04	%		115,653		485
Chico Mall		2/11/2009		4.74	%		57,203		226
Collin Creek Mall		7/11/2011		6.78	%		66,997		378
Columbia Mall (MO)		2/1/2013		6.05	%		90,000		454
Coronado		6/7/2010		5.08	%		168,798		714
Corporate Pointe 2 (10650 W. Charleston)		9/11/2012		6.83	%		4,526		26
Corporate Pointe 3 (10750 W. Charleston)		9/11/2012		6.83	%		4,526		26
Country Hills		6/1/2016		6.04	%		13,526		68
Crossroads Center (MN)		7/30/2010		4.73	%		84,306		332
Deerbrook		3/2/2009		3.46	%		73,964		213
Eagle Ridge		10/12/2015		5.41	%		47,578		215
Eastridge (CA)		9/1/2011		5.79	%		170,000		820
Eastridge (WY )		12/5/2011		5.08	%		39,162		166
Eden Prairie		4/1/2011		4.67	%		79,828		311
Fallbrook		6/3/2013		6.14	%		85,000		435
Faneuil Hall		4/1/2013		5.57	%		94,122		437
Fashion Place		10/5/2010		5.30	%		144,483		638
Four Seasons		12/11/2013		5.60	%		100,429		469
Fox River		12/3/2012		5.96	%		195,000		969
Gallery at Harborplace 1 (Baltimore Center Land, Garage & Office)		12/1/2010		7.89	%		49,387		325
Gallery at Harborplace 2 (Baltimore Center Land, Garage & Office)		12/1/2010		7.03	%		3,200		19
Gallery at Harborplace 3 (Baltimore Center Land, Garage & Office)		12/1/2010		7.49	%		5,100		32
Gallery at Harborplace 4 (Baltimore Center Land, Garage & Office)		12/1/2010		7.93	%		2,200		15
Gallery at Harborplace 5 (Baltimore Center Land, Garage & Office)		12/1/2010		8.89	%		4,705		35
Gateway		4/1/2011		7.28	%		39,767		241
Gateway Overlook		3/1/2013		5.78	%		55,000		265
Glenbrook		7/1/2010		4.91	%		177,235		726
Grand Canal Shoppes		5/1/2009		4.78	%		393,754		1,568
Grand Traverse		10/1/2012		5.02	%		85,302		357
Greenwood		4/1/2011		7.28	%		44,647		271
Harborplace		10/5/2012		5.79	%		50,000		241
Homart I (*)		2/28/2013		5.95	%		245,115		1,215
Hulen Mall		12/7/2011		5.03	%		113,021		474
Ivanhoe Capital (*)		12/3/2012		5.74	%		93,713		448
Jordan Creek		3/2/2009		4.57	%		185,950		707
JP Comm Jr. Gateway Crossing		7/9/2010		4.70	%		15,234		60
JP Comm Jr. Univ. Crossing		7/9/2010		4.70	%		11,373		45
JP Comm Sr. Austin Bluffs		4/9/2009		4.40	%		2,288		8
JP Comm Sr. Division Crossing		4/9/2009		4.40	%		5,273		19
JP Comm Sr. Fort Union		4/9/2009		4.40	%		2,753		10
JP Comm Sr. Halsey Crossing		4/9/2009		4.40	%		2,581		9
JP Comm Sr. Orem Plaza Center St		4/9/2009		4.40	%		2,460		9
JP Comm Sr. Orem Plaza State St		4/9/2009		4.40	%		1,523		6
JP Comm Sr. Riverpointe Plaza		4/9/2009		4.40	%		3,811		14
JP Comm Sr. Riverside Plaza		4/9/2009		4.40	%		5,454		20
JP Comm Sr. Woodlands Village		4/9/2009		4.40	%		6,968		26
Knollwood		10/12/2015		5.35	%		39,942		178
Lakeside Mall		12/1/2009		4.28	%		180,302		643
Lakeview Square		3/1/2016		5.81	%		41,334		200
Lansing I		1/15/2010		9.35	%		24,144		186
Lincolnshire Commons		4/1/2013		5.98	%		28,000		140

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VII — Continued
STATUS OF MORTGAGES PAYABLE FOR DEBTORS
(UNAUDITED)


						Total Debt Balance		Interest Expense
Property	Maturity Date		Rate (a)			November 30, 2009		Month Ended November 30 (b)
						(Dollars in thousands)
Lynnhaven		7/6/2010		5.05	%		236,988		997
Maine		6/11/2010		4.84	%		216,295		872
Mall of Louisiana Mezz (*)		4/1/2011		6.40	%		62,343		333
Mall of Louisiana Note A		4/1/2011		5.46	%		118,469		539
Mall of Louisiana Note B		4/1/2011		5.92	%		54,362		268
Mall St Matthews Ltd Partnership		1/4/2010		4.81	%		144,565		579
Mall St Vincent		7/7/2014		6.30	%		49,000		257
Market Place		2/1/2013		6.05	%		106,000		534
Moreno Valley		9/11/2013		5.96	%		87,402		434
Newgate		10/1/2010		4.84	%		40,991		165
Newpark		2/1/2011		7.45	%		68,201		423
North Point		3/1/2011		5.48	%		215,691		986
North Star		1/4/2010		4.43	%		232,570		859
Northgate		9/1/2016		5.88	%		45,025		221
Northridge Fashion		7/1/2011		7.24	%		126,403		763
Oglethorpe		7/2/2012		4.89	%		141,375		576
Oviedo		5/7/2012		5.12	%		51,819		221
Oxmoor		6/3/2013		6.85	%		56,922		325
Park City Note A		10/1/2010		4.74	%		120,029		474
Park City Note B		10/1/2010		7.10	%		29,206		173
Park Place		1/11/2010		5.15	%		176,443		757
Peachtree		6/1/2010		5.08	%		89,590		379
Pecanland		3/1/2010		4.28	%		57,838		206
Piedmont		9/6/2016		5.98	%		33,911		169
Pine Ridge		12/5/2011		5.08	%		26,404		112
Pioneer Place Limited Partners Land		4/27/2010		10.00	%		346		3
Prince Kuhio		4/1/2009		3.45	%		37,826		109
Providence Place 2		3/11/2010		5.03	%		258,525		1,083
Providence Place 3 (*)		3/11/2010		5.12	%		59,529		254
Providence Place 4 (*)		3/11/2010		5.93	%		39,044		193
Providence Place Pilot A1		7/1/2016		7.75	%		23,754		153
Providence Place Pilot A2		6/30/2028		7.75	%		22,253		144
Red Cliffs		12/5/2011		5.08	%		25,095		106
Regency Square		7/1/2010		3.59	%		93,790		281
Ridgedale		4/1/2010		4.86	%		178,194		722
River Hills		6/3/2013		6.14	%		80,000		409
RiverTown Junior Loan (*)		7/1/2011		9.15	%		15,788		120
RiverTown Senior Loan		7/1/2011		7.29	%		102,111		620
Rogue Valley		12/31/2010		7.85	%		26,347		172
Sikes Senter		6/1/2012		5.20	%		61,381		266
Sooner Fashion		6/3/2013		6.14	%		60,000		307
Southlake		12/5/2017		6.44	%		100,000		537
Southland		3/2/2009		3.62	%		81,477		246
Southland (RSE)		3/5/2010		4.97	%		108,788		451
St. Louis Galleria		7/5/2010		4.86	%		237,412		961
Staten Island 1		10/1/2010		5.09	%		85,000		356
Staten Island 2		10/1/2010		8.15	%		70,616		473
Staten Island 3		10/1/2010		5.61	%		125,000		584
Steeplegate		7/31/2009		4.94	%		77,889		321
Stonestown Note A		9/1/2011		5.85	%		155,600		759
Stonestown Note B		9/1/2011		5.65	%		60,000		283
Stonestown Mezz (*)		9/1/2011		5.79	%		57,400		277
The Boulevard		7/1/2013		4.27	%		107,630		383
The Crossroads (MI)		6/1/2009		7.40	%		39,791		245
The Woodlands Note A		6/13/2011		5.91	%		185,000		912
The Woodlands Note B		6/13/2011		5.91	%		55,000		271
Three Rivers		12/5/2011		5.08	%		21,497		91
Town East		4/13/2009		3.46	%		105,182		303
Tucson Mall		10/11/2033		4.26	%		119,627		425
Tysons Galleria		9/12/2011		5.72	%		255,000		1,216
Valley Hills		3/5/2014		4.73	%		56,851		224
Valley Plaza		7/11/2012		3.90	%		95,268		310
Victoria Ward (Village/Industrial/Gateway)		10/1/2011		5.61	%		88,500		414
Victoria Ward (Warehouse/Plaza)		10/6/2011		5.52	%		68,500		315
Village of Cross Keys		7/31/2009		7.04	%		10,257		60
Visalia		1/11/2010		3.78	%		41,595		131
Vista Ridge		4/11/2011		6.87	%		80,351		460
Ward Centre & Ward Entertainment		1/4/2010		4.33	%		58,294		210
Washington Park		4/1/2014		5.35	%		12,099		54
West Valley		4/1/2010		3.43	%		56,436		161
White Marsh		9/1/2012		5.62	%		187,000		876
Willowbrook Mall		7/1/2011		6.82	%		158,587		902
Woodbridge Corporation		6/1/2009		4.24	%		207,934		735

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VII — Continued
STATUS OF MORTGAGES PAYABLE FOR DEBTORS
(UNAUDITED)


						Total Debt Balance			Interest Expense
Property	Maturity Date		Rate (a)			November 30, 2009			Month Ended November 30 (b)
						(Dollars in thousands)
Unsecured Asset Loans:
GGPLP/GGPLPLLC Exchangable Debt (*)		4/15/2012		3.98	%		1,550,000			5,141
Public Indenture — Company Debt (*)		9/17/2012		7.20	%		400,000			2,400
Public Indenture — Senior Bond (*)		3/16/2009		3.63	%		395,000			1,193
Public Indenture 100 (*)		11/26/2013		5.38	%		100,000			448
Public Indenture 350 (*)		11/26/2013		5.38	%		350,000			1,568
Public Indenture Senior Note (*)		4/30/2009		8.00	%		200,000			1,333
Rouse Senior Notes (*)		5/1/2013		6.75	%		800,000			4,500


Fixed Rate Debt						$	16,528,628		$	73,998


Variable Rate Loans
Secured Asset Loans:
Bank Note — Animas Valley		7/11/2013		2.50	%		35,054			73
Bank Note — Birchwood Mall		7/11/2013		2.50	%		44,308			92
Bank Note — Cache Valley		7/11/2013		2.50	%		28,043			58
Bank Note — Colony Square		7/11/2013		2.50	%		25,239			52
Bank Note — Columbiana		7/11/2013		2.50	%		105,441			219
Bank Note — Fallen Timbers		7/11/2013		2.50	%		42,401			88
Bank Note — Foothills		7/11/2013		2.50	%		50,758			105
Bank Note — Grand Teton		7/11/2013		2.50	%		48,795			101
Bank Note — Mall at Sierra Vista		7/11/2013		2.50	%		23,556			49
Bank Note — Mall of the Bluffs		7/11/2013		2.50	%		35,951			75
Bank Note — Mayfair		7/11/2013		2.50	%		274,932			571
Bank Note — Mondawmin		7/11/2013		2.50	%		84,689			176
Bank Note — North Plains		7/11/2013		2.50	%		10,656			22
Bank Note — North Town Mall		7/11/2013		2.50	%		114,976			239
Bank Note — Oakwood		7/11/2013		2.50	%		75,772			157
Bank Note — Owings Mills		7/11/2013		2.50	%		53,281			111
Bank Note — Pierre Bossiere		7/11/2013		2.50	%		40,382			84
Bank Note — Pioneer Place		7/11/2013		2.50	%		156,764			326
Bank Note — Salem Center		7/11/2013		2.50	%		41,728			87
Bank Note — Silver Lake Mall		7/11/2013		2.50	%		18,228			38
Bank Note — Southwest Plaza		7/11/2013		2.50	%		96,187			200
Bank Note — Spring Hill		7/11/2013		2.50	%		68,088			142
Bank Note — Westwood Mall		7/11/2013		2.50	%		24,117			50
Bank Note — White Mountain		7/11/2013		2.50	%		10,656			22
Fashion Show		3/15/2009		6.25	%		645,918			3,359
Oakwood Center		3/16/2009		1.75	%		95,000			138
Palazzo		3/15/2009		6.25	%		249,623			1,298

Unsecured Asset Loans:
DIP (c)		3/16/2011		13.50	%		400,000			4,500
GGPLP/GGPLPLLC Revolver (*)		2/24/2010		1.50	%		590,000			733
GGPLP/GGPLPLLC Senior Term (*)		2/24/2010		1.50	%		1,987,500			2,468
TRUPS (*)(d)		4/30/2036		1.78	%		206,200			297


Variable Rate Debt							5,684,243			15,930



Total Filing Entity Debt						$	22,212,871	(e)	$	89,928


(a)		Reflects the variable contract rate as of November 30, 2009.

(b)		All amounts for current period were paid as scheduled, except where noted (*).

(c)		Loan obtained in May 2009.

(d)		Junior subordinated notes of GGPLP purchased by GGP Capital Trust I, a Non-Debtor Delaware statutory trust and wholly-owned subsidiary of GGPLP, with proceeds from the sale of trust preferred securities.

(e)		Excludes liabilities to special improvement districts, discount on GGPLP Exchangable Debt and purchase accounting mark-to-market adjustments.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VIII
CHAPTER 11 RETAINED PROFESSIONALS DETAIL
(UNAUDITED)


	Period Expense		Cash Paid		Expense		Cash Paid
	Month Ended		Month Ended		Cumulative Post-Petition		Cumulative Post-Petition
Name	November 30, 2009		November 30, 2009		Period Ended November 30, 2009		Period Ended November 30, 2009
					(In thousands)
Akin Gump Strauss Hauer & Feld, LLP	$	173	$	968	$	8,485	$	5,114
AlixPartners, LLP		1,110		868		8,725		4,225
Assessment Technologies		—		—		29		25
Baker & Daniels LLP		—		—		—		—
Bracewell Giuliani		92		—		711		160
Calvo & Clark LLP		—		—		—		—
Cushman & Wakefield		—		509		1,054		538
Deloitte & Touche LLP		335		988		3,204		988
Deloitte Tax LLP		42		11		458		13
Epiq Solutions		—		2		17		13
Ernst & Young LLP		91		75		632		307
FTI Consulting		293		220		2,176		1,043
Grant Thornton		—		—		19		—
Halperin Battaglia Raicht LLP		16		9		61		29
Hewitt Associates		78		—		586		—
Houlihan Lokey		49		232		3,523		990
Jenner & Block		148		75		1,163		590
Kirkland & Ellis LLP		1,250		—		11,670		5,924
Kurtzman Carson Consultants LLC		—		75		3,155		2,049
Miller Buckfire & Co LLC⁽¹⁾		986		305		5,472		3,102
PricewaterhouseCoopers		4		—		42		—
Silverstein & Pomerantz LLP		—		—		—		—
Weil, Gotshal & Manges LLP		1,726		1,228		15,638		8,266

Total	$	6,393	$	5,565	$	66,820	$	33,376

Professional Fees Summary (See Note 7)

Restructuring costs	$	5,773	$	4,426	$	61,148	$	31,339
General & administrative		578		1,063		4,979		1,578
Other⁽²⁾		42		76		693		459

Total	$	6,393	$	5,565	$	66,820	$	33,376


⁽¹⁾		The amount paid to Miller Buckfire & Co LLC (“Miller Buckfire”) includes $3.2 million related to financing fees for the DIP Facility (see Note 1) which were capitalized. Additionally, the return of a retainer fee from Miller Buckfire to GGP of $1.3 million is also included in cash payments as a refund in the cash paid cumulative post-petition amounts.

⁽²⁾		The amounts included in Other Professional Fees relate to expenses incurred for Retained Professionals not classified as restructuring or general & administrative costs.

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IX
NON-NOTICED ASSET CONVEYANCES
AND AUTHORIZED DE MINIMIS SALES FOR
THE MONTH ENDED NOVEMBER 30, 2009


Debtor	Property	Date and Transaction Description	Counterparty	Consideration
				(In thousands)
HHPI (consenting to West Charleston Lofts III,LLC)	Summerlin Village 19 — Power Substation (APN:164-02-510-004)	11/10/2009 — Electric easement	Nevada Power Company	None
HHPI (consenting to West Charleston Lofts III,LLC)	Summerlin Village 19 — Power Substation (APN:164-02-510-004)	11/10/2009 — Electric easement (wall construction)	Nevada Power Company	None
GGP Natick Residence LLC	Condominium Unit # 632 Natick, MA	11/02/2009 Condominium Unit Sale	Six Three Two Nouvelle Realty Trust	$	391
GGP Natick Residence LLC	Condominium Unit #303 Natick, MA	11/02/2009 Condominium Unit Sale	Brian Guarente	$	255
GGP Natick Residence LLC	Condominium Unit # 701 Natick, MA	11/03/2009 Condominium Unit Sale	Andrei Soran	$	333
GGP Natick Residence LLC	Condominium Unit #726 Natick, MA	11/03/2009 Condominium Unit Sale	Rita Kapur	$	349
GGP Natick Residence LLC	Condominium Unit #744 Natick, MA	11/02/2009 Condominium Unit Sale	Micheal Yee	$	281
GGP Natick Residence LLC	Condominium Unit # 748 Natick, MA	11/03/2009 Condominium Unit Sale	April Eldred	$	385
GGP Natick Residence LLC	Condominium Unit # 832 Natick, MA	11/03/2009 Condominium Unit Sale	Hinson Investment	$	360
GGP Natick Residence LLC	Condominium Unit # 842 Natick, MA	11/02/2009 Condominium Unit Sale	Markopoulos	$	249
GGP Natick Residence LLC	Condominium Unit # 843 Natick, MA	11/03/2009 Condominium Unit Sale	Anthony Chin	$	417
GGP Natick Residence LLC	Condominium Unit # 848 Natick, MA	11/03/2009 Condominium Unit Sale	Chris Kotsiopoulos	$	402
GGP Natick Residence LLC	Condominium Unit # 902 Natick, MA	11/02/2009 Condominium Unit Sale	Xiangyang Li and Wei Shen	$	355
GGP Natick Residence LLC	Condominium Unit # 903 Natick, MA	11/02/2009 Condominium Unit Sale	Wing Hang Wong	$	260
GGP Natick Residence LLC	Condominium Unit #942 Natick, MA	11/02/2009 Condominium Unit Sale	Shihao Pan and Jianjing Ling	$	249
GGP Natick Residence LLC	Condominium Unit # 944 Natick, MA	11/02/2009 Condominium Unit Sale	Olivia S. Guo	$	290
GGP Natick Residence LLC	Condominium Unit # 1002 Natick, MA	11/03/2009 Condominium Unit Sale	Annie Shum	$	363
GGP Natick Residence LLC	Condominium Unit # 1006 Natick, MA	11/03/2009 Condominium Unit Sale	Bharat Dave and Soroj Dave	$	367
GGP Natick Residence LLC	Condominium Unit # 1105 Natick, MA	11/03/2009 Condominium Unit Sale	Srikanth Sharma	$	604

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IX
NON-NOTICED ASSET CONVEYANCES
AND AUTHORIZED DE MINIMIS SALES FOR
THE MONTH ENDED NOVEMBER 30, 2009


Debtor	Property	Date and Transaction Description	Counterparty	Consideration
				(In thousands)
GGP Natick Residence LLC	Condominium Unit # 1109 Natick, MA	11/03/2009 Condominium Unit Sale	Hinson Investment	$	560
GGP Natick Residence LLC	Condominium Unit # 743 Natick, MA	11/03/2009 Condominium Unit Sale	Robert Toner	$	415
GGP Natick Residence LLC	Condominium Unit # 905 Natick, MA	11/04/2009 Condominium Unti Sale	Jeffrey Weisberg and Debra Weisberg	$	484
GGP Natick Residence LLC	Condominium Unit # 704 Natick, MA	11/04/2009 Condominium Unit Sale	Micheal Sack	$	364
GGP Natick Residence LLC	Condominium Unit # 926 Natick, MA	11/13/2009 Condominium Unit Sale	Ramachandra Vallurupalli and Usharani Raminemi	$	346
GGP Natick Residence LLC	Condominium Unit # 631 Natick, MA	11/16/2009 Condominium Unit Sale	Giridhar Immandi	$	439
GGP Natick Residence LLC	Condominium Unit # 1113 Natick, MA	11/18/2009 Condominium Unit Sale	Sean Martin/Adam Rogers	$	545
GGP Natick Residence LLC	Condominium Unit # 1208 Natick, MA	11/18/2009 Condominium Unit Sale	Richard and Cynthia Maloney	$	569
GGP Natick Residence LLC	Condominium Unit # 1005 Natick, MA	11/16/2009 Condominium Unit Sale	Dong Liu	$	484
GGP Natick Residence LLC	Condominium Unit # 545 Natick, MA	11/20/2009 Condominium Unit Sale	Neelam Rand	$	359
GGP Natick Residence LLC	Condominium Unit # 1008 Natick, MA	11/20/2009 Condominium Unit Sale	Ducksoo and Eunjoo Kim	$	559
GGP Natick Residence LLC	Condominium Unit # 547 Natick, MA	11/23/2009 Condominium Unit Sale	David Diamond	$	279
GGP Natick Residence LLC	Condominium Unit # 829 Natick, MA	11/24/2009 Condominium Unit Sale	Liyu Yang	$	395
GGP Natick Residence LLC	Condominium Unit # 801 Natick, MA	11/24/2009 Condominium Unit Sale	Roger Chen	$	330
GGP Natick Residence LLC	Condominium Unit # 1001 Natick, MA	11/30/2009 Condominium Unit Sale	Sai Zhu XU	$	335
GGP Natick Residence LLC	Condominium Unit # 11 Walden Drive, Natick, MA	11/06/2009 Condominium Unit Sale	Laura Ebrecht	$	142
GGP Natick Residence LLC	Condominium Unit # 44 Silver Hill Lane, Unit#13, Natick, MA	11/23/2009 Condominium Unit Sale	Viola Said	$	137

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

Reporting Period: November 2009

SCHEDULE X
DEBTORS QUESTIONNAIRE*


		Yes	No
1	Have any assets been sold or transferred outside the normal course of business this reporting period?		X
2	Have any funds been disbursed from any account other than a debtor in possession account this reporting period?		X
3	Is the Debtor delinquent in the timely filing of any post-petition tax returns?		X
4	Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?		X
5	Is the Debtor delinquent in paying any insurance premium payment?		X
6	Have any payments been made on pre-petition liabilities this reporting period?	X ⁽¹⁾
7	Are any post petition receivables (accounts, notes or loans) due from related parties?	X ⁽²⁾
8	Are any post petition payroll taxes past due?		X
9	Are any post petition State or Federal income taxes past due?		X
10	Are any post petition real estate taxes past due?		X
11	Are any other post petition taxes past due?		X
12	Have any pre-petition taxes been paid during this reporting period?		X
13	Are any amounts owed to post petition creditors delinquent?		X
14	Are any wage payments past due?		X
15	Have any post petition loans been received by the Debtor from any party?	X ⁽³⁾
16	Is the Debtor delinquent in paying any U.S. Trustee fees?		X
17	Is the Debtor delinquent with any court ordered payments to attorneys or other professionals?		X
18	Have the owners or shareholders received any compensation outside of the normal course of business?		X


*		Unless otherwise indicated, answer is for the combined group of Debtors (see Note 1).

(1)		An aggregate of $9.5 million has been paid in the reporting period by or on behalf of the Debtors with respect to pre-petition liabilities as approved by the Bankruptcy Court. Such disbursements have been for employee salaries, commissions and reimbursements, taxes to government entities and for other services rendered pre-petition.

(2)		The net change in the aggregate Debtors intercompany accounts with affiliated non-debtors for the period was an increase in the amounts due to Non-Debtors of $11.45 million.

(3)		As previously described in Note 6 of the May MOR, which description is incorporated into this response by reference, the DIP Term Loan of $400 million was funded on May 15, 2009.

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