Indianapolis-based Simon Property Group Inc., the largest owner of malls in the United States, said it signed a record number of leases in 2024.
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Indianapolis-based Simon Property Group announced David Simon will continue to serve as CEO during his cancer treatment.
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In his debut earnings call in the role of Simon Property Group’s chief executive, Eli Simon talked about what drove $1.76 billion in first-quarter revenue.
Susan Orr and Indianapolis-based Simon Property Group Inc.—the largest owner of shopping malls in the United States—on Monday reported second quarter financial results that exceeded analyst expectations.
Eli Simon, whose grandfather and great-uncles founded Simon Property Group more than a half-century ago, is quietly emerging as a key executive in the retail real estate empire.
The Indianapolis-based mall operator said it’s seeing good early results from J.C. Penney, which Simon and a group of co-investors purchased out of bankruptcy in December.
Indianapolis-based Simon said it lost about 20% of its total shopping days last year at its U.S. malls because of government-mandated shutdowns related to the pandemic.
Indianapolis-based shopping mall giant Simon Property Group will reinstate the pay of executives and board members who had been working under pandemic-related pay cuts since spring, the company announced Monday.
The media is fascinated by what he’s up to, as the nation’s largest shopping mall owner teams with partners to buy ailing retail chains while negotiating with Amazon to fill vacant anchor spaces with distribution centers.
The Indianapolis-based shopping mall operator said all of its U.S. properties have reopened, with the exception of a handful in California that were forced to close for a second time on July 15 because of government mandates.
David Simon and Bobby Taubman are battling now in court over whether Simon Property Group is obligated to complete the $3.6 billion purchase of Michigan-based Taubman Centers that it announced in February.
The company is cutting more than 100 employees and furloughing others as it weathers the temporary shutdown of much of the retail industry.
The CEO of Simon Property Group says the company's "fifth platform" will leverage its huge customer base—its more than 220 properties draw more than 100 million customers who make 2 billion visits a year.
The company said it hasn’t lost faith in brick-and-mortar retail but now is broadening its development focus in a quest to continue increasing the value of its real estate holdings.
New York-based Ann Taylor has provided nearly 30,000 pages of documents in response to discovery requests related to why it signed a lease in 2006 to open a Loft store in a competitor's shopping center, only to reverse itself two years later and instead open at Simon Property Group's nearby University Park Mall.
Analysts say Simon has reason to covet Macerich, whose 40 best malls have lofty sales per square foot of $618.
Since David Simon became CEO in 1995, Simon Property shares have posted a total return of 2,150 percent—a dazzling run extending nearly two decades.
Seeking to avoid investor litigation, Simon Property this year eliminated a $120 million stock award to CEO David Simon in favor of a performance-based bonus. A retirement fund isn’t satisfied.
Simon Property Group won’t have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
Simon Property Group has tied CEO David Simon’s $154 million retention bonus to the financial performance of the company, but plaintiffs in a related legal action are not satisfied.
The as-yet-unnamed new company will have a separate management team. The company initially will own 54 strip centers and 44 malls.
Simon Property Group directors improperly refused to let shareholders vote on changes to the company’s executive-compensation plan that resulted in a $120 million stock award to CEO David Simon, investors’ lawyers argued Monday in court.
