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  "documentTitle": "General Growth Properties (GGWPQ)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2009-05-27 00:00:00",
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  "notes": "The slide uses a callout box to emphasize the long-term nature of the lease portfolio.",
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      "kind": "callout",
      "text": "GGP's business is far less cyclical than that of the retail industry because its revenues are insulated by long-term leases which are structurally senior claims",
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      "text": "More than 75% of GGP's leases do not expire until 2012 or later",
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      "text": "More than 75% of GGP’s leases do not expire until 2012 or later",
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      "text": "GGP Lease Expiration Schedule (1)",
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      "text": "lease expiration percentage: 75%",
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      "kind": "source-note",
      "text": "Source: GGP Q1'09 operating supplement. Expiration includes Company's pro rata share of its unconsolidated segment. (1) Excludes leases on anchors of 30,000 square feet or more...",
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      "text": "Rent & Recov. Per Sq Ft data row",
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      "text": "Long Term Leases",
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