Simon Property Group

Simon CEO lands $137 million in compensation

April 10, 2012
J.K. Wall
David Simon must remain CEO of Indianapolis-based Simon Property Group for at least six years to see any of the $120 million in special stock awards the company’s board of directors awarded him last year, and must stay on eight years to reap the full amount.
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French mall operator looks to Simon for know-how

March 23, 2012
Bloomberg News
Simon Property Group Inc.’s cutting-edge experience as the biggest U.S. mall owner will help Klepierre SA boost rental income at its shopping centers, the French company’s CEO says.
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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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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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Simon cashes out of venture that owns 46 Italian centers

January 11, 2012
Bloomberg News
The Indianapolis developer's sale of its 49-percent stake further reduces the company's presence in Europe.
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Simon chasing title of state's most valuable companyRestricted Content

January 7, 2012
Greg Andrews
David Simon's massive new compensation plan—which includes a $120 million long-term bonus—is a drop in the bucket compared with the wealth the company has been creating in recent years, even as the overall market zigs and zags.
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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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2011 NEWSMAKER: Simon collects big raise, takes on Amazon.com

December 24, 2011
Simon Property Group Inc. signed an employment agreement with CEO David Simon that will keep him as head of the Indianapolis-based company the next eight years.
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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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Washington Square owner Simon not paying on $12.8M loanRestricted Content

November 26, 2011
Cory Schouten
Traffic is low and vacancies are high at Washington Square Mall, the most troubled local property for Indianapolis-based mall giant Simon Property Group Inc.
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Simon widow loses another battle in estate fight

November 17, 2011
Michael W. Hoskins, Cory Schouten
The Indiana Court of Appeals ruled Bren Simon doesn't have legal standing to challenge a judge's decision not to recuse himself from overseeing the court fight over her late husband Melvin's $2 billion estate.
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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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Fashion Mall getting big upgradeRestricted Content

November 5, 2011
Cory Schouten
A multimillion-dollar makeover now under way at The Fashion Mall at Keystone will add an upscale food court and about 20 stores, many of them new to Indianapolis.
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Simon sues state over sales-tax loophole for Amazon.com

November 3, 2011
Cory Schouten
Simon Property Group Inc. has filed suit against the Indiana Department of Revenue in an attempt to force the state to collect sales taxes from Amazon.com Inc.
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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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Simon plan spells out Nordstrom strategyRestricted Content

September 24, 2011
Cory Schouten
As many as four large restaurants could open in the first floor of the former Nordstrom at Circle Centre mall under a plan floated by mall manager Simon Property Group Inc.
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Circle Centre wants Cinnabon out of mall

August 29, 2011
Scott Olson
A lawsuit filed by the downtown Indianapolis mall accuses Cinnaworks LLC, a franchisee of Cinnabon, of failing to pay its $6,751-per-month rent.
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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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Eastgate owner plots unusual office-space strategy

August 9, 2011
Cory Schouten
The owner of the former Eastgate shopping center has begun marketing a third phase of its mall overhaul: About 225,000 square feet of emergency backup office space.
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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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Simon Property Group signs CEO to long-term contract

July 8, 2011
 IBJ Staff and Bloomberg News
Indianapolis-based Simon Property Group Inc. signed an employment agreement with CEO David Simon that will keep him as head of the largest U.S. mall owner for the next eight years—and give him a one-time award worth $120 million.
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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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Nordstrom closing Circle Centre store

May 26, 2011
Cory Schouten
Nordstrom plans to close its store at Circle Centre mall, dealing a substantial setback for downtown. The Seattle-based chain was scheduled to announce the closure to employees at a mandatory staff meeting Thursday morning, a person familiar with the plans told IBJ.
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