Real Estate Investment Trust

Simon Property likely to continue pursuit of British mall ownerRestricted Content

December 18, 2010
 IBJ Staff and Bloomberg News
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."
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UPDATE: United Kingdom mall owner rejects Simon bid

December 15, 2010
Bloomberg News
Capital Shopping Centres Group Plc, the United Kingdom's biggest shopping mall owner, turned down Simon Property Group Inc.'s $4.6 billion bid, describing it as "inadequate."
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Simon’s options for Capital Shopping takeover dwindling

December 13, 2010
Bloomberg News
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
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Kite plans to raise $65 million in stock offering

December 1, 2010
The Indianapolis-based real estate investment trust said it will sell 2.6 million shares of preferred stock at $25 each to repay debt, purchase property and use for general corporate purposes.
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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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  1. Looking at the two companies - in spite of their relative size to one another -- Ricker's image is (by all accounts) pretty solid and reputable. Their locations are clean, employees are friendly and the products they offer are reasonably priced. By contrast, BP locations are all over the place and their reputation is poor, especially when you consider this is the same "company" whose disastrous oil spill and their response was nothing short of irresponsible should tell you a lot. The fact you also have people who are experienced in franchising saying their system/strategy is flawed is a good indication that another "spill" has occurred and it's the AM-PM/Ricker's customers/company that are having to deal with it.

  2. Daniel Lilly - Glad to hear about your points and miles. Enjoy Wisconsin and Illinois. You don't care one whit about financial discipline, which is why you will blast the "GOP". Classic liberalism.

  3. Isn't the real reason the terrain? The planners under-estimated the undulating terrain, sink holes, karst features, etc. This portion of the route was flawed from the beginning.

  4. You thought no Indy was bad, how's no fans working out for you? THe IRl No direct competition and still no fans. Hey George Family, spend another billion dollars, that will fix it.

  5. I live downtown Indy and had to be in downtown Chicago for a meeting. In other words, I am the target demographic for this train. It leaves at 6:00-- early but doable. Then I saw it takes 5+ hours. No way. I drove. I'm sure I paid 3 to 5 times as much once you factor in gas, parking, and tolls, but it was reimbursed so not a factor for me. Any business traveler is going to take the option that gets there quickly and reliably... and leisure travelers are going to take the option that has a good schedule and promotional prices (i.e., Megabus). Indy to Chicago is the right distance (too short to fly but takes several hours to drive) that this train could be extremely successful even without subsidies, if they could figure out how to have several frequencies (at least 3x/day) and make the trip in a reasonable amount of time. For those who have never lived on the east coast-- Amtrak is the #1 choice for NY-DC and NY-Boston. They have the Acela service, it runs almost every hour, and it takes you from downtown to downtown. It beats driving and flying hands down. It is too bad that we cannot build something like this in the midwest, at least to connect the bigger cities.

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