* In talks to extend $575 mln credit facility

* To place additional property with brokers within next month

* Reaffirms FY09 FFO outlook of $2.30-$2.60 per share

* Plans to halve div after completing share offering

April 16 (Reuters) - Weingarten Realty Investors (WRI.N: Quote, Profile, Research) said it is seeking to extend its $575 million revolving credit facility and is also negotiating with various lenders for about $325 million of new liquidity.

The commercial real estate owner, manager and developer, which has $300 million of properties already in the market with brokers, said it expects to take an additional $290 million to market within the next month.

The company said it currently has $242 million available to be drawn under its revolving credit facility.

Separately, the REIT said it planned to sell 25.5 million shares and will use the proceeds from the offering to reduce debt.

Earlier in the day, General Growth Properties Inc GGP.N, the second-largest U.S. mall owner, declared bankruptcy in the biggest real estate failure in U.S. history. [ID:nN16227089]