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  "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "notes": "The slide calculates anticipated demand as 60% of the $16.09B market cap and anticipated supply as 255 million shares at $15/share.",
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      "text": "Anticipated Demand vs Supply: $9,654",
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      "text": "(1) Based on Simon Crossholdings Analysis. (2) Assumes full clawback of 190mm Pershing Square and Fairholme shares. (3) Assumes GGP sells 65mm Liquidity Equity Issuances shares.",
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