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  "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
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  "authorName": "William Ackman",
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  "presentationDate": "2010-05-26 00:00:00",
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  "notes": "The chart shows a dual-axis plot with implied cap rates on the left and the spread on the right.",
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      "kind": "callout",
      "text": "At a $14 share price, PF GGP trades at an 8.0% implied cap rate net of GGO(1)",
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      "text": "Exhibit 7: GGP and SPG Implied Cap Rate and Cap Rate Spread",
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      "text": "Source: Company data, Credit Suisse estimates",
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      "text": "GGP Currently Trades at a Meaningful Cap Rate Spread to Simon",
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