Real Estate & Retail

Legal battle over Simon estate plan puts big gifts in limbo

March 6, 2010
Kathleen McLaughlin
Billionaire mall developer Melvin Simon wanted to leave the Jewish Federation of Greater Indianapolis $10 million, but it could be up to his widow, Bren Simon, whether to fulfill that wish.
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Magazine names Fishers 'top affordable suburb'

March 5, 2010
 IBJ Staff
The Bloomberg BusinessWeek survey gives the town north of Indianapolis high grades for "livability, safety, education, and economic performance."
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Judge signs off on Hansen & Horn liquidation

March 4, 2010
Scott Olson
A court-appointed receiver can begin selling the assets of troubled home builder Hansen & Horn Group Inc., after a judge approved its liquidation on Wednesday.
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Creditors: General Growth biased toward Brookfield proposal

March 3, 2010
Bloomberg News
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property Group also has bid to acquire the bankrupt company.
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Simon daughter questions using father's estate to pay donations

March 2, 2010
Greg Andrews
Pledges to St. Vincent, Indianapolis Museum of Art should be paid by trusts, foundations affiliated with Bren Simon, court papers allege.
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Mass Ave project works toward April approval

March 2, 2010
Tom Harton
Trail Side on Mass Ave would include 69 one-bedroom apartments and about 23,000 square feet of ground-level retail space.
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Stutz Business Center owner purchases Canterbury Hotel

March 1, 2010
Scott Olson
Turner Woodard has purchased the historic Canterbury Hotel on South Illinois Street. He said the hotel fits his vision of turning around properties and making them profitable.
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Hearings on Walgreens' bid to sell alcohol continued

March 1, 2010
Scott Olson
The Illinois-based drugstore chain is seeking to sell beer and wine at 29 of its stores in Marion County. Opponents argue that the county already has granted enough permits.
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Regulators take interest in Simon's play for Prime Outlets

February 27, 2010
Bloomberg News
The Federal Trade Commission has contacted Gap Inc. about Simon Property Group's proposed acquisition of Prime Outlets Acquisition Co.
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Tech-savvy Scotty's owner eyes national expansion

February 27, 2010
Andrea Muirragui Davis
Scotty watch videoScott Wise has five Scotty's Brewhouse locations and is set to debut the Scotty's Lakehouse concept Monday. Within 10 years, he'd like to have restaurants in the Southeast and on the West Coast.
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Restoration planned for landmark Old Centrum propertyRestricted Content

February 27, 2010
Cory Schouten
The Historic Landmarks Foundation of Indiana plans to acquire the Romanesque Revival former church and is considering moving its headquarters there.
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Redevelopment planned for site of former juvenile facilityRestricted Content

February 27, 2010
Cory Schouten
King Park Area Development Corp. is preparing to approach developers interested in submitting plans for the 1.8-acre site, the equivalent of about eight residential lots.
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Disagreement about parking delays project on Meridian Street

February 27, 2010
 IBJ Staff
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
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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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Scotty's owner planning to open microbrewery

February 26, 2010
Andrea Muirragui Davis
Indianapolis restaurateur Scott Wise is moving forward with plans to launch Scotty’s Thr3e Wise Men Brewing Co., a microbrewery that will produce craft beer for his eateries and the public. It will share space with another startup craft brewer.
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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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Westfield Group enters General Growth fray, source says

February 25, 2010
Bloomberg News
Additional offers beyond those by Simon Property Group and Brookfield Asset Management may emerge, General Growth President Thomas H. Nolan Jr. said.
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Brookfield deal doesn't put Simon out of General Growth game

February 25, 2010
Bloomberg News
The bid by Simon Property was an "initial salvo" and the Brookfield plan likely will prompt a new offer from the Indianapolis-based mall owner, real estate research analyst says.
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General Growth plans to split in two to exit bankruptcy

February 24, 2010
Bloomberg News
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield Asset Management Inc
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IU president plans aggressive building campaign

February 24, 2010
J.K. Wall
In a speech Tuesday, President Michael McRobbie said IU is gunning to construct at least 12 buildings on its Bloomington and Indianapolis campuses in spite of the economy and falling state funding.
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Brookfield after 30-percent stake in General Growth, source says

February 23, 2010
Bloomberg News
The plan by Toronto-based Brookfield Asset Management would give General Growth Properties a higher valuation than a $10 billion takeover bid by Simon Property Group.
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Resource Commercial Real Estate pursuing Colliers flag

February 23, 2010
Cory Schouten
Resource Commercial Real Estate is one of a handful of local real estate brokerage firms angling to take over an affiliation with Colliers International.
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Report: Brookfield plans bid for Simon target General Growth

February 23, 2010
Bloomberg News
Brookfield 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.
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Receiver: Insolvent Hansen & Horn should be liquidated

February 22, 2010
Scott Olson
The troubled home builder's $14.5 million in liabilities are twice as much as its assets, receiver tells Marion County judge, who takes the recommendation under advisement.
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Metro-area home sales plummet

February 22, 2010
January home sales in the nine-county Indianapolis area fell 16.5 percent from the same month last year, according to a report from Re/Max of Indiana. But the housing news wasn't all bad. The average price of a home in the area jumped 12.1 percent.
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