Simon Property Group Inc., which in February offered to purchase rival mall owner General Growth Properties Inc., has added four backers to its proposal to help General Growth emerge from bankruptcy, Bloomberg reported. In Iowa, General Growth owns and operates Jordan Creek Town Center in West Des Moines and Coral Ridge Mall in Coralville..

Joining the plan are ING Clarion Real Estate Securities, Taconic Capital Advisors, Oak Hill Advisors LP and Deutsche Bank AG’s RREEF unit, which would increase the plan’s total investment by $1.1 billion, Simon said on Wednesday. The investments would be on top of the $2.5 billion pledged by Indianapolis-based Simon and $1 billion from New York hedge fund Paulson & Co.

Simon, spurned earlier this year in a bid to buy General Growth outright, said a week ago it would match the terms of a bankruptcy exit proposal led by Brookfield Asset Management Inc. CEO David Simon is scheduled to meet with General Growth officials in Chicago today, two people familiar with plan said.

Simon also said it would backstop a $1.5 billion credit line that General Growth needs to emerge from bankruptcy. Under the competing plan, Brookfield would raise that debt. Simon also said it will waive a $12.5 million fee that’s in the Brookfield-led proposal, pay any default or compound interest owed to creditors, and sell, distribute or put into a trust any interests in General Growth in excess of a 45 percent stake.

Simon said its offer is better for General Growth shareholders because, unlike Brookfield’s plan, it doesn’t include warrants that may dilute stock value. General Growth, based in Chicago, backed the Brookfield plan in February after turning down a $10 billion takeover offer by Simon.