Tilson’s presentation on GGP

Whitney Tilson recently presented a potential valuation for GGP. He made an argument for GGP getting a comparable valuation to Simon Properties. Based on GGP’s asset quality and NOI, we agree that GGP should command at Cap Rate around 7%, which should mean a share price of $25. We think in the next 6-9 months the shares will reflect a much more fair valuation of the share prices.

T2 Partners Presentation

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