Ala Moana Center and the Ward complex of shopping centers have emerged from bankruptcy.

General Growth Properties Inc., the second-largest U.S. mall owner, restructured 74 secured mortgage loans totaling $9.4 billion, allowing 180 subsidiary debtors to emerge from bankruptcy, the company said yesterday.

General Growth, which owns Ala Moana and Ward, also said an industrial plaza in Kakaako as well as Prince Kuhio Plaza in Hilo and other affiliated businesses emerged from bankruptcy.

The restructuring of 16 remaining loans, valued at about $2.1 billion and involving 36 additional borrowers, is expected to occur in the next few weeks, Chicago-based General Growth said in a statement. It also completed a four-year extension of a $155 million mortgage on the Carolina Place mall in Pineville, N.C.

General Growth didn't provide details of the restructuring. The 180 debtors own 96 properties.

General Growth filed the biggest real-estate bankruptcy in U.S. history in April after amassing $27 billion in debt during an acquisition spree. At the time of the filing, the company said it had about $11.8 billion in debt that had matured or was due by the end of 2012.

The reorganization of the 16 loans will mean all the restructuring plans approved by the bankruptcy court will have been implemented, General Growth said.

The company owns or manages more than 200 shopping malls in 44 states and also owns office buildings. Its portfolio includes more than 24,000 stores and about 200 million square feet of retail space.