Bankrupt retail real estate investment trust (REIT) General Growth Properties (GGP) will get a $2.63bn infusion in cash from Toronto-based real estate firm Brookfield Asset Management (BAM), enabling the shopping mall developer to exit bankruptcy. The GGP-Brookfield alliance comes just one week after Simon Property Group (SPG), a retail REIT and the largest real estate company in the US, announced its unsolicited $10bn offer for GGP. GGP rejected the Simon offer, resulting in a public back-and-forth between the two shopping mall rivals. The deal with Brookfield will create a new company, General Growth Opportunities (GGO), which will own certain GGP non-core assets, such as all of the company's master planned communities and landmark developments like South Street Seaport and others, Chicago-based GGP said. In addition, GGP's unsecured creditors will be paid at par — the debt's face value — plus accrued interest.