Real Estate Investment Trust

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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Simon boosts forecast as quarterly results exceed expectations

October 25, 2011
Bloomberg News
Indianapolis-based shopping mall giant Simon Property Group Inc. reported funds from operations that beat analyst estimates and raised its full-year forecast as income from rents rose.
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Simon Property Group gets new $4B credit facility

October 5, 2011
Associated Press
Indianapolis-based shopping mall giant Simon Property Group Inc. has received a new $4 billion unsecured revolving credit facility.
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Industrial-market sales this year end deal drought

September 20, 2011
Tom Harton
Through the first eight months of this year, there were at least seven sales of large industrial properties in the market, compared with zero last year.
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Kite shares still grounded two years after plungeRestricted Content

September 3, 2011
Cory Schouten
Kite Realty Group Trust says leasing activity is up, debt maturities are under control, and new retail developments could boost operating income this year an impressive 17 percent. Yet shares in the locally based firm still fail to excite investors.
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Real estate firms push to avoid notice in Obama tax rewrite

August 24, 2011
Bloomberg News
The industry, which includes Indianapolis-based REITs Simon Property Group Inc. and Duke Realty Corp., is guarding against a potential proposal from the Obama administration that would impose new taxes on partnerships and similar companies
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Kite sees smaller loss, more revenue in 2nd quarter

August 4, 2011
 IBJ Staff
Kite Realty Group Trust saw a smaller loss and higher revenue in the second quarter compared to the same quarter a year ago, the Indianapolis-based real estate investment trust announced late Thursday.
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Duke Realty suffers loss on lower revenue

July 28, 2011
The Indianapolis-based real estate investment trust said it lost $29 million in its latest quarter, compared with a loss of $42.4 million in the same time frame a year earlier.
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Simon Property results improve as U.S. retail sales advance

July 26, 2011
Bloomberg News
Indianapolis-based Simon Property Group Inc. said funds from operations rose 20 percent in the second quarter as rents and occupancies increased. The company raised its forecast for the year.
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Tanger buys outlet center from Simon Property

June 28, 2011
Associated Press
Tanger Factory Outlet Centers Inc. said Tuesday it bought an Ohio outlet shopping center from Indianapolis-based Simon Property Group Inc. for $134 million.
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Simon Property to develop outlet center in Canada

May 23, 2011
Associated Press
Indianapolis-based Simon Property Group Inc. said Monday that it will open an outlet shopping center in Ontario, the first of the shopping mall owner's line of Premium Outlets-brand shopping centers in Canada.
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Kite Realty Trust reports wider first-quarter loss

May 6, 2011
 IBJ Staff
Indianapolis-based Kite Realty Group Trust on Friday reported a wider first-quarter loss than a year ago thanks to declining revenue and a big dividend payment to preferred shareholders.
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Simon Property results improve as store rents climb

April 29, 2011
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping-mall owner, said funds from operations rose 75 percent in the first quarter as retail sales climbed.
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Duke Realty reports strong quarterly results

April 28, 2011
Scott Olson
The Indianapolis-based real estate investment trust reported a first-quarter profit of $47.6 million compared with a loss of $15.3 million in the same quarter a year earlier. Gains from the sale of properties helped drive profit.
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Retail REIT profits may slip on store bankruptcies

April 11, 2011
Associated Press
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
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Simon CEO compensation jumps to $24.6 million

April 8, 2011
Bloomberg News
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
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Virginia not-for-profit suing Duke Realty for $30M

March 9, 2011
Military think tank CNA claims Duke Realty breached its obligations as landlord by selling land in Alexandria to the Department of Defense, which plans to build a bomb-inspection facility on the site.
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Duke Realty sells offices in shift toward industrialRestricted Content

February 19, 2011
Scott Olson
Strategy also calls for greater Southeast presence, less investment in the Midwest.
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Kite Realty sees decline in quarterly results

February 16, 2011
Associated Press
Indianapolis-based Kite Realty Group Trust on Wednesday reported a fourth-quarter loss on declining revenue.
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Simon Property's quarterly profit rises on improving retail sales

February 4, 2011
 IBJ Staff and Bloomberg News
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
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Duke Realty reports strong year-end results

January 27, 2011
Cory Schouten
Duke Realty Corp. reported a fourth-quarter profit almost 70 percent above last year's figure as it closed out its best leasing year since 2007 and finished with its highest annual portfolio occupancy rate since 2004.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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