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.
Read MoreIndianapolis-based Kite Realty Group Trust’s acquisition of Illinois-based Retail Properties of America Inc. is expected to close Thursday now that shareholders for both companies have approved the deal.
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But the real estate investment trust might also face pushback from investors, largely because the acquisition follows five years of offloading dozens of debt-heavy properties.
Washington Prime Group, which filed for bankruptcy Sunday, said it may end up selling some or all of its properties as part of its restructuring. The company also owns several other local retail centers.
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 Kite Realty Group Trust beat analyst expectations with its financial performance in the fourth quarter despite a decline in revenue and funds from operations.
The divestitures are part of what the company calls Project Focus, a previously-announced project to sell off non-core assets and pay down debt.
The Indianapolis-based real estate investment trust said it started $395 million of developments during the quarter totaling 2.6 million square feet.
The Indianapolis-based real estate investment trust saw profit shrink, but it beat Wall Street predictions with higher-than-expected funds from operations, a key industry metric.
Indianapolis-based mall owner Kite Realty Group Trust this month filed a request with the Marion County Board of Zoning Appeals to change zoning for some of the parking lots just east of the shopping center.
