Real Estate Investment Trust

Simon’s 20-year run has made investors a bundle

October 19, 2013
Greg Andrews
Simon Property Group now is the largest real estate company in the world and has a stock market value of $59 billion. That’s $6 billion more than Eli Lilly and Co., not that Simon's hypercompetitive CEO, David Simon, has noticed.
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Former Simon executive faces fraud charge

October 10, 2013
Kathleen McLaughlin
Federal prosecutors in Pittsburgh have charged Mark Palombaro of Carmel with a single count of mail fraud in connection with a kickback scheme.
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Simon debuts bonds in Europe as discount to U.S. widens

September 25, 2013
Bloomberg News
Simon Property Group Inc. is selling 750 million euros ($1 billion) of seven-year securities as the yield discount to U.S. dollar notes approaches the widest in more than 4-1/2 years.
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Mall owners go from first to last in REIT market

September 13, 2013
Bloomberg News
Shopping mall owners like Simon Property Group, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
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IPO for giant retail REIT may be biggest since Simon

July 21, 2013
Bloomberg News
The initial public offering of Brixmor Property Group, the second-largest U.S. shopping center landlord, may be the biggest for a retail real estate investment trust since Simon Property Group Inc.’s IPO 20 years ago.
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REITs tumble most since 2011 on concern of rising rates

June 19, 2013
Associated Press
Shares in U.S. real estate investment trusts fell the most in 19 months Wednesday. Three major REITs, all based in Indianapolis, saw their shares drop on Wednesday.
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Simon to buy $569M stake in European mall operator

June 3, 2013
Bloomberg News
Simon will gain an ownership stake in six McArthurGlen properties in Austria, the Netherlands, Italy and the United Kingdom, and become a partner in the London-based firm's real estate management and development business.
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Duke's CFO heading to Chicago real estate firm

May 17, 2013
 IBJ Staff
Christie Kelly is credited with playing a critical role at Duke in helping the company keep a strong financial position during the recession and economic recovery.
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IEDC deal with Mainstreet put on hold by Pence

April 8, 2013
Associated Press
Gov. Mike Pence asked the Indiana Economic Development Corp. on Monday to review its decision to grant $345,000 in economic incentives to a company started by a top Republican lawmaker and his son.
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Simon taps Pace bonds to fund energy projects

April 8, 2013
Bloomberg News
Indianapolis-based Simon Property Group Inc. is among borrowers funding projects from rooftop solar panels to energy-savings systems using so-called Pace financing.
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Developer to move HQ to Carmel, create 25 jobs

April 8, 2013
Mason King
Fast-growing Mainstreet Property Group will invest $800,000 to lease and equip offices at 14390 Clay Terrace Blvd.
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Local REITs charge ahead of pack in bull market

March 27, 2013
Scott Olson
Indiana real estate investment trusts are hitting new highs while outpacing the bull market and their peers in the usually hardy and suddenly hot sector.
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HealthLease to snare $141.7M in senior properties

March 25, 2013
Mason King
A central Indiana REIT that went public in 2012 has agreed to buy 13 senior housing and care facilities in three states, growing its asset value by 50 percent.
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Kite Realty is makeover artist for tired shopping centersRestricted Content

March 9, 2013
Cory Schouten
Having rejuvenated Glendale Town Center and Rivers Edge, Kite is turning its attention to Rangeline Crossing in Carmel.
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LEADING QUESTIONS: Mainstreet CEO masters efficiency

February 27, 2013
Mason King
LQ_Turner_WatchVideo MainstreetWhat are Zeke Turner's top five strategies for keeping his work week under 40 hours? Do you really need work e-mail on your smart phone? What's it like to take a company public? The real estate exec has answers.
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Kite sells 3 area buildings in dealmaking blitz

February 7, 2013
Cory Schouten
The Indianapolis-based real estate company disclosed the transactions in its fourth-quarter financial report. Kite said it lost $6.5 million in the quarter on nearly $27 million in revenue.
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Duke Realty earnings, revenue see quarterly decrease

January 30, 2013
 IBJ Staff
Indianapolis-based Duke Realty Corp. on Wednesday reported a fourth-quarter loss of $22.5 million, a sharp decline from the $60.2 million it made in the same quarter of 2011.
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Mall REITs soared in 2012 by ditching struggling centers

January 18, 2013
Bloomberg News
Mall owners, including Simon Property Group Inc. and General Growth Properties Inc., have been moving on from struggling retail centers as the economic rebound drives them to focus on the best-performing markets.
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Kite continues Southeast push with $37.3M in acquisitions

December 27, 2012
 IBJ Staff
In December, the Indianapolis-based real estate investment trust bought two shopping centers in Greenville, S.C., using proceeds from its recent $60 million stock sale.
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Simon’s Rushmore Mall loan sent to servicer, Fitch says

December 12, 2012
Bloomberg News
A loan with a balance of $94 million on a South Dakota shopping center owned by Simon Property Group was sent to a special servicer because default is imminent, Fitch Ratings said.
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Kite Realty reports higher revenue, bigger loss

November 2, 2012
 IBJ Staff
Kite Realty Group Trust Inc. reported higher revenue and a bigger loss during its fiscal third quarter, a busy period during which the company raised $60 million from a share offering and bought one Florida shopping center and sold another.
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Duke loss narrows, quarter meets expectations

November 1, 2012
 IBJ Staff
Indianapolis-based Duke Realty Corp. on Wednesday reported a third-quarter loss of $28.2 million, smaller than a loss of $32 million in the same quarter of 2011.
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Simon beats expectations, boosts dividend, outlook

October 25, 2012
Bloomberg News
Indianapolis-based shopping center owner Simon Property Group hiked its quarterly dividend and its forecast for full-year funds from operations as its tenants benefited from an increase in consumer spending.
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Luxury-outlet strategy puts Simon on top of mall industry

September 20, 2012
Bloomberg News
Luxury outlet malls—where upscale retailers such as Coach Inc. and Michael Kors Holdings Ltd. hawk discount goods—are now the main source of expansion for the Indianapolis-based real estate investment trust, the country’s largest.
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Investor still pushing for Simon to buy rival despite opposition

September 14, 2012
Bloomberg News
Brookfield Asset Management Inc. is keeping a tight grip on its stake in General Growth Properties Inc. in a bet the second-largest U.S. mall owner is better off as an independent company that will jump in value.
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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

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  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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