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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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.
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.
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.
The platform, called SPO, focuses on Simon’s Premium Outlet properties and is now in beta testing with the company’s VIP Club customers.
The Indianapolis-based retail real estate firm hopes to pay down debt, improve the quality of its assets and focus on preferred markets. Its shares fell on Wednesday after it revealed the plan and underwhelming quarterly results.
StREITwise, a Los Angeles-based real estate investment trust, purchased the 142,000-square-foot Class A office and retail building from Ambrose Property Group.
Simon Property Group managed improvement in every significant financial category in 2018 despite a landslide of retailer failures. On Friday, CEO David Simon said the company will have to continue to navigate through more store closures.
The Indianapolis-based real estate investment trust executed 93 leases and opened spaces for 39 new tenants in the quarter.
Simon Property Group Inc. on Thursday raised it outlook for the rest of the year after surpassing analyst expectations in a key quarterly performance category for real estate investment trusts.
Heath R. Fear has been named executive vice president and CFO of the Indianapolis-based real estate investment trust, replacing Dan Sink, who stepped down June 30 after serving as Kite’s CFO for almost 20 years.
Mall landlords, besieged for the past two years by the rise of online shopping and retailer bankrupties, are trying to push a new narrative of improving sales and increased demand for empty space at their properties.
The Indianapolis-based shopping mall giant also raised its full-year forecast after exceeding forecasts with its financial results.
Brian McDade has been with the retail real estate giant for 14 years, serving in various senior finance and accounting roles.
Kite Realty Group Trust now sports a whopping 8.5 percent annual dividend yield—by far the highest of any publicly traded firm in Indiana—a reflection of the cold shoulder investors are giving retail real estate companies as internet sales soar higher.
An Indianapolis City-County Council panel on Monday night unanimously advanced proposals that would help Duke Realty Corp. move its headquarters from Carmel to a new $28 million office building it would build in Indianapolis.
