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  "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
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  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2009-12-07 00:00:00",
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  "notes": "The chart tracks the average leverage ratio (total liabilities net of cash as a % of current value of assets) for a specific group of REITs.",
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      "text": "leverage ratio: 52.2%",
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      "text": "Source: Green Street Real Estate Securities Monthly. (1) Total liabilities (including preferred shares) net of cash as a % of current value of assets. Mall average includes CBL, GGP, Glimcher, Macerich, PREIT, Simon, Tanger, Taubman and Westfield.",
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      "text": "Mall REITs have Delevered",
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