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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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  "notes": "The table highlights that most tenants are expected to have higher margins in 2011 compared to 2008.",
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      "text": "Cost cutting and inventory management initiatives will help tenant margins expand despite lower 2009 sales",
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      "text": "Source: Capital IQ consensus estimates as of December 5, 2009. (1) Based on GGP's top ten tenants... (2) Consensus EBITDA margin weighted average...",
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