Simon Property Group

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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Retailers surprisingly upbeat as they head into holidaysRestricted Content

November 14, 2009
Greg Andrews
Those in the trenches say this won't be a blockbuster Christmas, but it won’t be horrid, either.
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Simon reports slight improvement in quarterly results

October 30, 2009
Cory Schouten
Simon Property Group Inc. reported slightly higher funds from operation for its fiscal third quarter, but FFO fell on a per-share basis thanks to the company's issuance of more than 50 million new shares so far this year.
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Shopping center vacancies continue to climb

October 12, 2009
Scott Olson
Vacancies at U.S. shopping malls and retail strip centers have climbed to steep levels, a trend that Indianapolis-based commercial real estate companies Simon Property Group Inc. and Kite Realty Group Trust haven't been able to dodge.
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Widow likely biggest beneficiary of Simon's estate

September 26, 2009
Peter Schnitzler
Bren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more, wealth managers speculate, based on the legal and tax issues involved in such a large estate.
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Simon built mall empire from scratch, changed way America shopsRestricted Content

September 19, 2009
Cory Schouten
Melvin Simon, who died at 82 on Sept. 16, grasped early on that creation of the nation's interstate system would pave the way for large, enclosed shopping centers.
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BENNER: Can we keep the franchise the Simons saved?Restricted Content

September 19, 2009
Bill Benner
The passing of Mel Simon adds more uncertainty to the Indiana Pacers’ future in Indianapolis.
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Clinton, Bird among mourners at Simon funeral

September 18, 2009
Associated Press
Former President Bill Clinton described Melvin Simon as one of the most remarkable people he's ever met as he gave a eulogy today during the funeral for the billionaire shopping mall developer and Indiana Pacers co-owner.
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UPDATE: Simon remembered for vision, courage

September 16, 2009
Cory Schouten
A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic cancer.
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'Community icon' Melvin Simon dies

September 16, 2009
Cory Schouten
Melvin Simon, a tailor’s son who earned billions building shopping malls across the U.S. and later became a prolific philanthropist in his adopted hometown of Indianapolis, has died. He was 82.
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Anderson siblings buying city's Mounds Mall

September 15, 2009
 IBJ Staff and Associated Press
Two Anderson siblings are buying the city's Mounds Mall from the Florida-based company that has owned it for the past six years.
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Flush with cash, developer Simon revives hunt for acquisitionsRestricted Content

September 12, 2009
Greg Andrews
Simon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. The key has been well-timed acquisitions.
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UPDATE: Simon rents, occupancy buck shopping decline

August 4, 2009
Cory Schouten
Sales still are suffering at shopping centers owned by Simon Property Group Inc., but the Indianapolis-based mall giant managed in the second quarter to keep occupancy steady and eke out an increase in average rent rates.
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Simon reports loss amid tough retail conditions

August 4, 2009
Cory Schouten
Indianapolis shopping mall giant Simon Property Group Inc. today said it lost $20.8 million in the second quarter in what it called a "difficult retail environment."
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David Simon named among world's best CEOsRestricted Content

June 29, 2009
 IBJ Staff
The big cheese at Simon Property Group is wedged among the "top gun" executives in the U.S.
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Spicy Pickle sued for unpaid rent at Castleton SquareRestricted Content

June 8, 2009
 IBJ Staff
Simon Property Group Inc. has filed suit against Spicy Pickle franchisee AJ Enterprises LLC, seeking more than $977,000 in unpaid rent for a prime space at Castleton Square Mall.
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Simon adds to its stake in British mall ownerRestricted Content

June 8, 2009
 IBJ Staff
Locally based Simon Property Group Inc. has added 18.6 million shares to its stake in the United Kingdom's largest owner of shopping malls, Liberty International Plc.
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REITs get boost, not scorn, for selling cheap sharesRestricted Content

May 11, 2009
Greg Andrews
Here's more evidence we're in strange times: Indianapolis' real estate investment trusts have been issuing hundreds of millions of dollars of stock at woefully low prices—and getting a pat on the back from their shareholders for doing so.
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Simon family's interests helped city thrive, but taxpayers paid the price

April 20, 2009
Cory Schouten
The Simon family's role in building the city has come at a steep price for taxpayers. Simon and its business interests in the last 20 years have collected local government incentives worth more than $400 million, an IBJ tally of those deals shows.
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Noblesville offered generous incentives to Simon for mallRestricted Content

April 20, 2009
Cory Schouten
The old adage that retail follows rooftops is only partially true; retail also follows taxpayer-funded incentives.
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Simon layoffs would jeopardize HQ incentive dealRestricted Content

April 20, 2009
Cory Schouten
During one of the worst markets for real estate in decades, at a time when developers of all sizes are shedding employees, officials with Simon Property Group Inc. continue to insist they have had zero layoffs.
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Mall giant says it's in good shape, but takes steps to conserve cashRestricted Content

February 9, 2009
Cory Schouten
Despite assurances of strength, Simon Property Group Inc. has decided to pay 90 percent of its dividend in stock, a move that allows the company to hold onto $925 million in cash this year but could alienate shareholders drawn by the dividend.
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Ailing anchor store casts uncertainty over Circle CentreRestricted Content

January 26, 2009
Greg Andrews
The shopping mall business is fragile these days, with the recession sapping consumer spending as well as retailers' demand for space. So how is Circle Centre, the centerpiece of downtown Indianapolis' 1990s revival, holding up? OK for now, it seems.
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