Indianapolis-based Simon Property Group Inc. said Monday that it will open an outlet shopping center in Ontario, the first of the shopping mall owner's line of Premium Outlets-brand shopping centers in Canada.
Indianapolis-based Kite Realty Group Trust on Friday reported a wider first-quarter loss than a year ago thanks to declining revenue and a big dividend payment to preferred shareholders.
Simon Property Group Inc., the largest U.S. shopping-mall owner, said funds from operations rose 75 percent in the first quarter as retail sales climbed.
The Indianapolis-based real estate investment trust reported a first-quarter profit of $47.6 million compared with a loss of $15.3 million in the same quarter a year earlier. Gains from the sale of properties helped drive profit.
Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.
Simon Property Group Inc.’s board is working on a long-term employment agreement with Chairman and CEO David Simon, whose compensation rose more than fivefold last year.
Military think tank CNA claims Duke Realty breached its obligations as landlord by selling land in Alexandria to the Department of Defense, which plans to build a bomb-inspection facility on the site.
Indianapolis-based Kite Realty Group Trust on Wednesday reported a fourth-quarter loss on declining revenue.
Strategy also calls for greater Southeast presence, less investment in the Midwest.
Earnings for the Indianapolis-based shopping mall owner increased to $217.9 million in the fourth quarter, up from $91.5 million in the fourth quarter of 2009. Funds from operations, a key measurement used by real estate investment trusts, also improved.
Duke Realty Corp. reported a fourth-quarter profit almost 70 percent above last year's figure as it closed out its best leasing year since 2007 and finished with its highest annual portfolio occupancy rate since 2004.
Massachusetts-based Franklin Street Properties acquired the Monument Circle headquarters of insurance giant WellPoint Inc. late in 2010 for $42 million—a rich $196 per square foot—from an affiliate of locally based HDG Mansur.
Goldman Sachs & Co. analyst Jonathan Habermann expects a return of 5 percent to 10 percent this year after last year’s 29-percent total return for REIT stocks.
Company will purchase 23 acres and have Duke Realty Corp. build a 225,000-square-foot industrial facility in Lebanon Business Park. The move should be completed by December.
Simon Property Group Inc. has secured a 3 billion pound loan that will give the company the resources to bid for London-based Capital Shopping Centres Group Plc.
The Indianapolis-based real estate investment trust said it will sell 3.1 million square feet of suburban office space for $516.7 million and buy 4.9 million square feet of mostly industrial space for $450 million.
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."
Capital Shopping Centres Group Plc, the United Kingdom’s biggest shopping mall owner, turned down Simon Property Group Inc.’s $4.6 billion bid, describing it as “inadequate.”
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
The Indianapolis-based real estate investment trust said it will sell 2.6 million shares of preferred stock at $25 each to repay debt, purchase property and use for general corporate purposes.
