Real Estate Investment Trust

Simon beats expectations, boosts dividend, outlook

October 25, 2012
Bloomberg News
Indianapolis-based shopping center owner Simon Property Group hiked its quarterly dividend and its forecast for full-year funds from operations as its tenants benefited from an increase in consumer spending.
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Luxury-outlet strategy puts Simon on top of mall industry

September 20, 2012
Bloomberg News
Luxury outlet malls—where upscale retailers such as Coach Inc. and Michael Kors Holdings Ltd. hawk discount goods—are now the main source of expansion for the Indianapolis-based real estate investment trust, the country’s largest.
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Investor still pushing for Simon to buy rival despite opposition

September 14, 2012
Bloomberg News
Brookfield Asset Management Inc. is keeping a tight grip on its stake in General Growth Properties Inc. in a bet the second-largest U.S. mall owner is better off as an independent company that will jump in value.
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General Growth rejects call for sale of company to Simon

September 10, 2012
Bloomberg News
General Growth Properties Inc., the second-largest U.S. shopping-mall owner, rejected investor Bill Ackman’s request to put itself up for sale and said it will remain independent.
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Bell Techlogix landlord buys tech firm's new headquarters

August 28, 2012
Tom Harton
Philadelphia-based BPG Properties Ltd., which owns the building at 8888 Keystone Crossing that Bell is vacating, has purchased Bell’s new headquarters at 4400 W. 96th St.
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Investor urges General Growth to pursue being acquired by Simon

August 27, 2012
Bloomberg News
Bill Ackman’s Pershing Square Capital Management LP, the second-largest investor in General Growth Properties Inc., urged the mall owner to enter negotiations for a takeover by rival Simon Property Group Inc.
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Potential for Simon-General Growth deal appears to dim

August 25, 2012
Bloomberg News
General Growth Properties' largest shareholder said it won’t pursue a takeover of the company and has no interest in unloading its stake after investor Bill Ackman urged the mall owner to consider a sale.
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Simon again considering acquisition of shopping mall rival

August 24, 2012
 IBJ Staff and Bloomberg News
One of General Growth Properties Inc.'s largest shareholders says Indianapolis-based Simon Property Group has discussed acquiring the Chicago-based shopping mall competitor.
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Kite reports larger quarterly loss, higher revenue

August 3, 2012
The Indianapolis-based real estate investment trust attributed much of the $2.7 million loss to $1.8 million in interest and depreciation expenses on some of its properties. Revenue grew to $25.1 million.
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Simon Property's revolving loan signals overseas deals

June 11, 2012
Bloomberg News
Simon Property Group Inc., the world’s largest real estate investment trust, has increased its firepower for potential global expansion with a $2 billion revolving line of credit in six currencies.
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Shareholder group advises against Simon CEO bonus pay

May 7, 2012
Cory Schouten
Simon Property Group Inc. is firing back at a corporate governance advisory firm that has recommended Simon shareholders vote against an employment agreement for CEO David Simon that includes a $120 million retention award.
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Local developer files to go public in Canada

May 2, 2012
Cory Schouten
A locally based developer and owner of senior health care centers has filed to go public as a real estate investment trust in Canada.
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Simon boosts dividend after gains in sales, occupancy, rent

April 27, 2012
Cory Schouten
Simon Property Group Inc. said sales at its U.S. malls jumped 11.2 percent in its most recent quarter, to $546 per square foot. Simon malls were 93.6-percent occupied, up from 93 percent.
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Duke Realty’s quarterly results in line with expectations

April 26, 2012
Indianapolis-based Duke Realty Corp.’s financial performance in the first quarter met analyst expectations even though the company suffered a $36 million loss and saw revenue decline by $65 million.
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Simon Property Group goes on $3.5B mall spending spree

March 8, 2012
 IBJ Staff and Bloomberg News
The Indianapolis mall owner is expanding its global profile, agreeing to buy a controlling stake in a French firm with a 271-property European portfolio. Simon also is buying out a partner in its Mills portfolio closer to home.
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Castleton Square Mall lands Borders replacement

February 28, 2012
Cory Schouten
Forever 21, a privately held California-based chain, has begun converting the roughly 25,000-square-foot former bookstore at the south entrance to the mall and is targeting a summer opening.
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Kite reports quarterly profit, smaller annual loss

February 9, 2012
The Indianapolis-based real estate investment trust earned a profit of $3.1 million for the quarter ended Dec. 31, but lost $800,000 for the entire year.
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Simon quarterly results improve as sales increase at malls

February 3, 2012
Simon Property Group Inc., the largest U.S. shopping-mall owner, reported a 6.3-percent gain in fourth-quarter funds from operations as income from rents rose.
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Duke Realty's quarterly results beat expectations

January 25, 2012
Indianapolis-based Duke Realty Corp. slightly exceeded analyst estimates with it financial performance in the fourth quarter, the company reported Wednesday.
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Sears closings shouldn't be big problem for Simon

December 29, 2011
Kathleen McLaughlin
Simon Property Group has more shopping malls with Sears as a tenant than any other landlord, but any closings are likely have a negligible effect on the Indianapolis-based real estate company's overall earnings, an analyst says.
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Overseas rules change could pave way for Simon deals

December 6, 2011
Cory Schouten
New rules proposed for real estate investment trusts in the United Kingdom could help Indianapolis-based Simon Property Group Inc. as it seeks to expand its shopping mall dominance outside the United States.
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Mall owner Simon Property Group to sell $1.2 billion in debt

November 10, 2011
Associated Press
Indianapolis-based Simon Property Group Inc. on Thursday said it plans to sell $1.2 billion of new debt to repay older debt.
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Buyers edging back into Indianapolis commercial real estateRestricted Content

November 5, 2011
Cory Schouten
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
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Kite reports narrower loss on higher revenue, occupancy

November 2, 2011
Cory Schouten
Kite Realty Group Trust Inc. saw a smaller loss in its third quarter compared to a year ago, along with higher revenue and occupancy rates at its retail properties, the Indianapolis-based real estate investment trust announced Wednesday afternoon.
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Duke meets market expectations despite quarterly loss

October 26, 2011
 IBJ Staff
Duke Realty Corp. lost $32.1 million in the third quarter, but managed to meet analyst expectations in a key measurement for real estate investment trusts.
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