GGP Reports 3Q Profits

General Growth Properties, Chicago, has reported net income of $63.97 million ($0.29 per share) for the third quarter, compared with $61.43 million ($0.29 per share) for the third quarter of 2003.On a funds-from-operations basis, the real estate investment trust reported FFO per share of $0.66 for the third quarter, a 15.8% increase from $0.57 a year earlier. John Bucksbaum, GGP's chief executive officer, said the retail REIT is moving toward its "anticipated fourth-quarter closing of the Rouse transaction," referring to the REIT's acquisition of The Rouse Co., another retail REIT, earlier this year.