Indianapolis-based Simon Property Group Inc. has withdrawn its offer for General Growth Properties Inc. after a bankruptcy
court judge approved a sale process that gives an advantage to a group lead by rival bidder Brookfield Asset Management Inc.
General Growth Properties Inc. rejected Simon Property Group Inc.’s “best and final” offer.
Work could begin this fall on $10 million Trail Side complex.
Simon Property says its latest offer is worth $6.5 billion, or $20 a share, for General Growth. It had last offered $18.25
a share.
Developer’s $1.1 million loss in the first quarter reflected lower construction activity and lower gains on land and outlet
sales.
Too few of the city's revitalization projects are connected by attractive sidewalks, streets, gardens and plazas.
There has been a noticeable uptick in the level of health care real estate development activity this year.
The Plainfield Diner is among five endangered structures new to Indiana Landmarks' annual top 10 list released Wednesday.
General Growth said the hearing before U.S. Bankruptcy Judge Allan Gropper has been moved from Wednesday to Friday.
The project will create an event-friendly corridor from the expanded Indiana Convention Center to Conseco Fieldhouse.
The latest proposal is the Indianapolis-based company’s third attempt to buy or gain a piece of the No. 2 mall owner.
General Growth Properties Inc. plans to back a revised bankruptcy exit plan proposed by Brookfield Asset Management Inc. over
a competing offer by Simon Property Group Inc.
Some retail tenants of outlet malls are concerned about Simon gaining too much market power should its acquisition of Prime
Outlets be approved.
Funds from operations fell to $325.6 million, or 94 cents a share, from $476.8 million, or $1.61 a year earlier, the Indianapolis-based
shopping mall giant said Friday morning.
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two
equity partners for the project because banks were unwilling to lend.
Duke Realty Corp. handled more leasing activity last quarter than it has in any first quarter in five years, the locally based
real estate
investment trust said on Wednesday.
Simon Property Group and Blackstone Group LP are in “ongoing discussions” for an investment in General Growth after the mall
operator turned down a $10 billion takeover bid from Simon in February, CEO David Simon said.
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions
on the sale of surplus state properties. He also acted as a developer for public-sector
tenants—putting them into buildings owned by him or his associates.
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
