Simon Property Group

Simon's $10 billion bid for bankrupt General Growth roils retailingRestricted Content

February 20, 2010
Cory Schouten
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation's largest mall owner succeeds in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
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Millionaire lawyer jumps into Melvin Simon will fight

February 20, 2010
Greg Andrews
Mike Ciresi, who’s representing widow Bren Simon, helped win a $6 billion settlement from the tobacco industry.
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General Growth board sued for rejecting $10B Simon bid

February 20, 2010
Bloomberg News
Directors at Chicago-based General Growth Properties Inc. are being sued by a shareholder claiming they shouldn’t have rejected a $10 billion buyout offer from competitor Simon Property Group Inc.
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Blackstone may join Simon's bid for General Growth

February 19, 2010
Bloomberg News
Blackstone Group LP, the world's largest private-equity firm, may join Simon Property Group Inc.'s bid to buy bankrupt General Growth Properties Inc., according to two people with knowledge of the discussions.
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General Growth snubs initial offer from rival Simon

February 17, 2010
Cory Schouten
Simon Property Group Inc. will have to wait in line with other potential bidders and raise its offer if it wants to land bankrupt rival General Growth Properties Inc., the Chicago-based company said in a letter late Tuesday.
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Simon making $10B bet on future of malls

February 16, 2010
Cory Schouten
Wall Street today is cheering Simon Property Group Inc.'s giant bet on the future of retail real estate, a sector that appeared left for dead just months ago. The nation's largest mall owner has offered $10 billion to take over its nearest rival, Chicago-based General Growth Properties Inc., which is in bankruptcy.
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Simon offers $10 billion for General Growth

February 16, 2010
 IBJ Staff and Associated Press
Deal to acquire competitor would be largest ever for Simon Property Group, already the nation's largest mall operator.
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Herb Simon purchases Kirkus book review journal

February 11, 2010
Scott Olson
In a move not necessarily stranger than fiction, Herb Simon has bought Kirkus Reviews, the venerable journal of prepublication book reviews. The owner of the Indiana Pacers co-owns an independent bookstore in California and is described as a voracious reader.
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UPDATE: Simon shares climb after profit beats estimates

February 5, 2010
Bloomberg News
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending flagged.
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Simon Property's quarterly profit tumbles

February 5, 2010
Bloomberg News
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
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Simon, partner selling European malls for $981M

February 5, 2010
Bloomberg News
Unibail-Rodamco SE, Europe's biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc. $981 million for stakes in seven malls in France and Poland.
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Deborah Simon says other potential trustees have conflicts

February 2, 2010
Greg Andrews
Melvin Simon's daughter, who's seeking to remove her stepmother from overseeing a trust that holds her late father Melvin's fortune, says a corporate trustee is a better option than brother David Simon or family financial adviser Bruce Jacobson.
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Simon Property Group enters dispute over founder's fortune

January 25, 2010
Cory Schouten
Simon Property Group Inc. is suing Bren Simon, the widow of company founder Melvin Simon, over her effort to convert part of her late husband's ownership stake in the publicly traded mall giant into common shares or cash.
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Simon Property accepts $2.3B of notes in offer

January 22, 2010
Associated Press
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
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Simon Property Group rolls out $2.25B offering

January 20, 2010
Associated Press
Proceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.
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Lauth Group leads slide in commercial real estate

December 26, 2009
Cory Schouten
The outlook for commercial real estate development continued to worsen in 2009, as one major name faltered and other companies scrambled to redesign their business models and capitalize on the carnage.
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NEWSMAKER: Mel Simon was shopping mall pioneer

December 26, 2009
Cory Schouten
Mel Simon, who died at 82 on Sept. 16, changed how America shops. He was chairman emeritus of locally based Simon Property Group Inc., the nation’s largest owner of retail real estate.
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General Growth says it will consider acquisition offers

December 18, 2009
 IBJ Staff and Associated Press
General Growth Properties, the Chicago mall owner that Indianapolis-based Simon Property Group Inc. is interested in buying, said the company will consider all offers and may sell shares to the public to raise capital.
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General Growth deal would extend Simon's mall dominance

December 12, 2009
Cory Schouten
Wall Street analysts have described the potential sale of Chicago-based General Growth Properties as a “once-in-a-lifetime opportunity” for a company to make “the deal of the decade” in the shopping-mall business.
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UPDATE: Simon stock jumps on $2.3B acquisition

December 8, 2009
Cory Schouten
Adding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25 million square feet of space.
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Simon buying Prime Outlets in $2.3B deal

December 8, 2009
Cory Schouten
Simon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a privately held firm that owns 22 of the giant properties.
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Simon buying General Growth debt for possible takeover

December 4, 2009
 IBJ Staff and Associated Press
The Indianapolis-based shopping mall owner is facing competition for General Growth from Toronto-based Brookfield Asset Management Inc., which also has been buying up General Growth's debt.
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General Growth's refinancing plan could thwart Simon

December 3, 2009
 IBJ Staff and Associated Press
General Growth Properties Inc., the nation's second-largest shopping mall operator, said lenders have agreed to restructure about $9.7 billion in debt. The agreements could put a damper on the acquisition aspirations of rival Simon Property Group Inc.
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Report: Simon considers sale of European properties

November 30, 2009
Cory Schouten
Simon Property Group Inc. may sell several of its properties in Europe to help raise funds for a possible bid for bankrupt rival General Growth Properties.
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Simon exploring bid to purchase rival General Growth

November 18, 2009
General Growth is the second-largest U.S. mall owner, trailing only Indianapolis-based Simon Property Group, with more than 200 regional malls in 44 states.
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  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

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  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

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