Real Estate Investment Trust

Simon rival General Growth exits Chapter 11

November 9, 2010
Associated Press
General Growth exits bankruptcy with more than 183 regional malls in 43 states — a retail portfolio second only to Indianapolis-based Simon Property Group Inc., which failed in its bid to scoop up its rival earlier this year.
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Simon's quarterly results slip, but profit, revenue rise

November 1, 2010
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping-mall owner, said third-quarter profit declined from a year ago after the company recorded an expense to buy back debt.
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REITs use stock sales to grow after paying debt

September 26, 2010
Bloomberg News
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.
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Simon sees improving retail conditions, analyst says

August 31, 2010
 IBJ Staff and Bloomberg News
Simon Property Group Inc. said retailers leasing space in its malls have managed to weather the economic downturn and are already eyeing recovery plans for when the economy improves.
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Kite Realty Group reports lower funds from operations

August 5, 2010
Scott Olson
Indianapolis-based developer said the loss reflected slower construction activity and lower profit on land and outlet sales. Occupancy at its retail centers increased, however, to 91 percent.
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Duke Realty's loss widens despite higher revenue

July 29, 2010
Scott Olson
Indianapolis-based real estate investment trust reports bigger quarterly loss, even though revenue, occupancy and tenant-retention rates rise.
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General Growth still backing Brookfield despite new Simon bid

May 7, 2010
Bloomberg News
General Growth Properties Inc. rejected Simon Property Group Inc.'s "best and final" offer.
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Kite reports first-quarter loss on lower revenue

May 6, 2010
Developer's $1.1 million loss in the first quarter reflected lower construction activity and lower gains on land and outlet sales.
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General Growth hearing delayed as Simon makes new bid

May 4, 2010
Bloomberg News
General Growth said the hearing before U.S. Bankruptcy Judge Allan Gropper has been moved from Wednesday to Friday.
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Simon Property steps up fight for General Growth

May 4, 2010
Bloomberg News
The latest proposal is the Indianapolis-based company's third attempt to buy or gain a piece of the No. 2 mall owner.
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Simon Property earnings fall on debt-retirement expenditures

April 30, 2010
Bloomberg News
Funds from operations fell to $325.6 million, or 94 cents a share, from $476.8 million, or $1.61 a year earlier, the Indianapolis-based shopping mall giant said Friday morning.
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Duke Realty reports leasing at 5-year high

April 29, 2010
Cory Schouten
Duke Realty Corp. handled more leasing activity last quarter than it has in any first quarter in five years, the locally based real estate investment trust said on Wednesday.
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Blackstone may join General Growth plan, Simon says

April 27, 2010
Bloomberg News
Simon Property Group and Blackstone Group LP are in "ongoing discussions" for an investment in General Growth after the mall operator turned down a $10 billion takeover bid from Simon in February, CEO David Simon said.
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Simon's General Growth plan 'crazy,' fund manager says

April 19, 2010
Bloomberg News
Bid to invest in General Growth Properties would give Simon too much control over its biggest competitor, said fund manager Bruce Berkowitz, who's backing a rival plan.
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General Growth seeks better offer than Simon's

April 16, 2010
Bloomberg News
General Growth Properties Inc. is seeking a higher price, fewer stock warrants or both from Brookfield Asset Management Inc. after its bankruptcy exit plan was matched by Simon Property Group Inc.
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Simon Property Group cranks up bid for General Growth

April 14, 2010
Simon Property Group upped its offer for rival General Growth Properties Inc., pledging to invest $2.5 billion in a reorganization and match the terms of a bankruptcy exit plan led by Brookfield Asset Management Inc.
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Kite Realty Group slashes CEO's pay 44 percent

April 14, 2010
Peter Schnitzler
John A. Kite's total compensation fell to $689,074 last year while the rest of his management team also took deep pay cuts.
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Financial backer agrees to drop suit against Lauth

April 8, 2010
Scott Olson
Affiliates of Lauth's largest financial backer, Inland American Real Estate Trust in Chicago, agree to dismiss their suit against the Indianapolis-based developer, and also withdraw a request to have a Chapter 11 trustee appointed.
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General Growth preparing to file finance plan

March 29, 2010
Bloomberg News
General Growth is weighing options to exit Chapter 11 protection, with competing bids from Indianapolis-based Simon Property Group Inc. and Brookfield Asset Management Inc.
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Another General Growth suitor enters fray

March 23, 2010
Bloomberg News
Elliott Associates LP and Paulson & Co. are said to be discussing a plan to team with Brookfield Asset Management Inc. to bring mall owner General Growth Properties Inc. out of bankruptcy, competing with Simon Property Group.
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Simon Property Group adds Glasscock to board

March 18, 2010
 IBJ Staff and Associated Press
Former WellPoint Inc. leader Larry Glasscock has joined the board of directors of the Indianapolis-based real estate giant.
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Simon says new General Growth plan is less uncertain

March 11, 2010
Bloomberg News
A new plan by mall owner General Growth Properties Inc. to exit bankruptcy resolves some uncertainty rival bidder Simon Property Group Inc. has criticized, Simon CEO David Simon says.
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General Growth investors add $3.93B to Brookfield plan

March 8, 2010
Bloomberg News
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
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General Growth seeks to block lawsuit over Simon bid

February 26, 2010
Bloomberg News
General Growth Properties Inc. asked a judge to block a shareholder lawsuit accusing its board of improperly rejecting an acquisition bid from Simon Property Group Inc.
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Battle for General Growth biggest real estate fight in years

February 25, 2010
Bloomberg News
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate skirmish since the sale of Sam Zell's Equity Office Properties Trust.
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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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