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Commercial Real Estate
Report: Brookfield plans bid for Simon target General Growth
February 23, 2010
Bloomberg NewsBrookfield Asset Management Inc. plans to bid for a stake in General Growth Properties Inc., beating an offer by Indianapolis-based
Simon Property Group Inc. for the bankrupt shopping mall owner, the Wall Street Journal reported.
MoreCommercial brokers trying property management in hard times
February 20, 2010
Scott OlsonThe commercial real estate slump is prompting several Indianapolis brokerages to add property-management services to their
portfolios or bolster existing ones.
MoreSimon's $10 billion bid for bankrupt General Growth roils retailing
February 20, 2010
Cory SchoutenSimon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The
Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation's largest mall owner succeeds
in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
MoreUrban Land Institute chapter launches in Indianapolis
February 20, 2010
Cory SchoutenChapter, heavily populated by developers, hopes to guide sustainable development.
MoreGeneral Growth board sued for rejecting $10B Simon bid
February 20, 2010
Bloomberg NewsDirectors at Chicago-based General Growth Properties Inc. are being sued by a shareholder claiming they shouldn’t have
rejected a $10 billion buyout offer from competitor Simon Property Group Inc.
MoreApartment developer plans 217 units in Lawrence
February 19, 2010
Cory SchoutenJ.C. Hart Co. is designing plans for a $17 million upscale apartment community as part of the master-planned Lawrence Village
at the Fort.
MoreBlackstone may join Simon's bid for General Growth
February 19, 2010
Bloomberg NewsBlackstone Group LP, the world's largest private-equity firm, may join Simon Property Group Inc.'s bid to buy bankrupt
General Growth Properties Inc., according to two people with knowledge of the discussions.
MoreKite Realty reports quarterly profit, annual loss
February 18, 2010
Scott OlsonIndianapolis-based developer Kite Realty Group Trust turned a small profit in the fourth quarter, but reported a loss in 2009
amid difficult commercial real estate conditions.
MoreGeneral Growth snubs initial offer from rival Simon
February 17, 2010
Cory SchoutenSimon Property Group Inc. will have to wait in line with other potential bidders and raise its offer if it wants to land bankrupt
rival General Growth Properties Inc., the Chicago-based company said in a letter late Tuesday.
MoreSimon making $10B bet on future of malls
February 16, 2010
Cory SchoutenWall Street today is cheering Simon Property Group Inc.'s giant bet on the future of retail real estate, a sector that
appeared left for dead just months ago. The nation's largest mall owner has offered $10 billion to take over its
nearest rival, Chicago-based General Growth Properties Inc., which is in bankruptcy.
MoreSimon offers $10 billion for General Growth
February 16, 2010
IBJ Staff and Associated PressDeal to acquire competitor would be largest ever for Simon Property Group, already the nation's largest mall operator.
MoreBanks suing Broadbent, pushing one strip center into bankruptcy
February 13, 2010
Peter SchnitzlerLocally based Broadbent Co.’s legal battles with lenders have escalated, pushing one of its 34 strip malls into bankruptcy
and prompting Huntington National Bank and PNC Bank to sue to collect principal owed on loans tied to four more.
MoreICVA chief: Downtown Indianapolis will need another big hotel
February 13, 2010
Scott OlsonThe 1,000-room J.W. Marriott isn’t even finished and support already is emerging for a second downtown hotel that
would rival it in size.
MoreCity of Franklin selling two buildings, including former City Hall
February 13, 2010
IBJ StaffBids for one or both of the properties will be accepted from Feb. 17 through March 16 at the Clerk-Treasurer’s Office
at 70 E. Monroe St.
MoreDevelopment firm Sandor leaving midtown for Carmel
February 13, 2010
Cory SchoutenStrip-center owner and developer Sandor Development Co. is moving its headquarters to Hamilton County after almost 50 years
in Indianapolis.
MoreOwners, developers see silver lining in health care real estate
February 9, 2010
Tom HartonHealth care real estate has survived the nation’s weak economy better than most sectors, and some owners and developers
think it’s positioned to thrive.
MoreUPDATE: Simon shares climb after profit beats estimates
February 5, 2010
Bloomberg NewsThe company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
MoreSimon Property's quarterly profit tumbles
February 5, 2010
Bloomberg NewsQuarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
MoreSimon, partner selling European malls for $981M
February 5, 2010
Bloomberg NewsUnibail-Rodamco SE, Europe's biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc.
$981 million for stakes in seven malls in France and Poland.
MoreClarian eyes vacant Levitz space for office, warehouse use
February 2, 2010
Kathleen McLaughlinClarian Health Partners is considering converting a long-vacant, 180,000-square-foot Levitz furniture store on East Washington
Street into a center for home-health and pharmacy services.
MoreFirst hotel in downtown Marriott complex to open doors
February 2, 2010
Scott OlsonThe Fairfield Inn & Suites on West Washington Street downtown will open Wednesday. The hotel is the first of four comprising
the 1,600-room Marriott Place project to welcome guests.
MoreNorthwest-side industrial park sells for almost $30 million
January 26, 2010
Tom HartonThe North by Northwest Business Park near 86th Street and Georgetown Road has been sold to firms in Minneapolis
and Baltimore for $29.6 million.
MoreSimon Property accepts $2.3B of notes in offer
January 22, 2010
Associated PressSimon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
MoreSimon Property Group rolls out $2.25B offering
January 20, 2010
Associated PressProceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.
MoreOutlook remains grim for commercial real estate
January 20, 2010
Cory SchoutenExpect another year of rising vacancies, declining property values and distressed sales in the central Indiana commercial
real estate
market. That's the message from Colliers Turley Martin Tucker in its annual State of Real Estate report.
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You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.
For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !
Three Magi
Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.