BROOK PPTY(US:BPYPN) Benzinga·2025-09-29 09:26Core Insights - Bill Ackman described his investment in General Growth Properties (GGP) as "the best investment" of his career, highlighting the potential of investing in companies facing bankruptcy [1][2] Investment Strategy - Ackman purchased a 25% stake in GGP in late 2008 when its stock price fell from $63 to 34 cents per share, emphasizing that buying stock in a bankrupt company can be a contrarian investment strategy [2] - GGP was the second-largest mall operator in the U.S. with $27 billion in debt, of which $15 billion was due within 18 months, yet Ackman believed in the strength of its underlying assets [2] Financial Performance - Ackman noted that GGP's occupancy rates, rents, and net operating income were all increasing, indicating solid fundamentals for the company [3] - The investment of approximately $60 million by Pershing Square Holdings Ltd. was significant, and Ackman took a board position to assist in the restructuring process [3] Success Stories - A New York City cab driver turned a $50,000 investment in GGP into a $3 million retirement fund, showcasing the transformative potential of Ackman's investment advice [4] Acquisition and Market Impact - The successful turnaround of GGP culminated in its acquisition by Brookfield Property Partners for $9 billion in 2018, marking a key milestone in Ackman's career [5] - Despite a recent decline of 1.58% in Brookfield Property Partners' stock, it has shown favorable price trends over various time frames [5]