Simon Property accepts $2.3B of notes in offer
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
Real estate deals
Articles
Outlook remains grim for commercial real estate
Expect another year of rising vacancies, declining property values and distressed sales in the central Indiana commercial
real estate
market. That’s the message from Colliers Turley Martin Tucker in its annual State of Real Estate report.
Nature Conservancy buys 282 acres from Girl Scouts
The land in Brown County will be turned over to the Indiana Division of Forestry.
Jones Lang LaSalle lures top industrial broker from CTMT
One of the city’s most prolific commercial real estate brokers is leaving the local office of Colliers Turley Martin Tucker
to join Chicago-based Jones Lang LaSalle.
Brokerage CTMT rebranding, dropping Tucker name
The city’s largest commercial real estate brokerage is breaking from Colliers International and dropping Tucker from its moniker
for the first time in more than 90 years.
Buckingham tapped to develop mixed-use project near IUPUI
Former YMCA branch at 860 W. 10th St. would be razed to make way for retail and housing.
AIMCO rethinks sale of four apartment complexes
A Denver-based company that just sold its largest Indianapolis apartment complex has taken its four remaining local properties
off the market.
General Growth says it will consider acquisition offers
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.
Brightpoint pays $31M for distribution facility
Locally based Brightpoint Inc. has closed on a $31 million deal to purchase its 495,000-square-foot distribution facility
in Plainfield.
UPDATE: Simon stock jumps on $2.3B acquisition
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.
Simon buying Prime Outlets in $2.3B deal
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.
Simon buying General Growth debt for possible takeover
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.
City mulls 6 proposals for use of Old City Hall
Visions for the empty historic building
range from offices to a museum. Two developers propose a boutique hotel on an adjacent parking
lot. Video bonus: Tour the landmark’s interior.
General Growth’s refinancing plan could thwart Simon
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.
Report: Simon considers sale of European properties
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.
Research lab could replace ATA headquarters
Paul Kite Co. has applied for a rezoning of the 16.5-acre site to allow for
non-airport uses.
Remnants of failed Premier Properties finally hit market
CB Richard Ellis recently began marketing the most prominent of Premier Properties’ local properties, Metropolis. The
Venu site
at the southwest corner of East 86th Street and Keystone Avenue also is up for grabs.
SPECIAL REPORT: Financial travails dog ‘mystery man’ at helm of Premier Properties
An IBJ review of hundreds of pages of public records shows Christopher P. White and his Premier
Properties USA Inc. are facing major financial and legal challenges. The most glaring signs of trouble: Contractors have filed
more than $3.5 million in liens against Premier’s retail properties in Plainfield; the state of Indiana is trying to
recover $375,000 in sales taxes on White’s airplane; and the contractor who renovated his Lake Clearwater mansion
is suing him to recover more than $600,000 in unpaid bills.
Simon exploring bid to purchase rival General Growth
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.
Teachers’ pension fund poised to buy downtown building from Duke
The Indiana State Teachers’ Retirement Fund is negotiating to buy a 12-story office building across from the
Statehouse in what could be the year’s largest downtown office transaction.