Simon Property Group Inc. is suing Bren Simon, the widow of company founder Melvin Simon, over her effort to convert part
of her late husband’s ownership stake in the publicly traded mall giant into common shares or cash.
Home sales statewide rose 4.1 percent in December compared with the same month in 2008, although Marion and Hamilton counties
reported sizable slides.
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
Partners in Housing Development seized on a weak real estate market to acquire three urban apartment communities in the last
18 months.
Farmers who might have worried about losing their livelihood
to new homes or retail have gotten a little breather.
Businesses say the money they must pay to provide customers the convenience to use plastic adds up. For example, Ricker Oil
Co. paid a whopping $3.9 million in 2009, according President Jay Ricker.
In Indiana, the Salvation Army owns 34 residences, including 10 in Indianapolis with a combined value of $1.6 million.
Emmis’ Jeff Smulyan paid off a loan collateralized by nearly all his Emmis stock. Retired Duke Realty Chairman John Wynne is facing new fallout from his margin loan, with the lender on his Williams Creek home pursuing foreclosure.
Conrad Indianapolis and West Baden Springs Hotel have been named to Condé Nast Traveler’s
Gold List 2010.
Bren Simon says in a new court filing that her billionaire husband Mel Simon granted her a bigger share of his fortune in
the last year of his life because of alarm over Simon Property Group’s plunging stock price and a sharp cut in its cash
dividend.
Mall retailer The Finish Line Inc. has agreed to forfeit a potentially lucrative tax-abatement deal because it won’t be able
to meet a 2008 promise to create almost 200 jobs and invest $24 million at its Indianapolis headquarters.
Proceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.
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.
Freda Lockhart was the first woman to open dealerships for Cadillac and Saturn automobiles.
Central Indiana’s housing market is on track to notch gains in the number of homes sold and the average sales price in 2010.
The Indianapolis industrial real estate market didn’t escape the recession unscathed, but the sector outperformed most other
cities and took less of a hit than in the last recession.
Six groups are vying to lead a redevelopment effort for the struggling Indianapolis City Market. Check out summaries of each
of the proposals.
City Market’s board president warns financing will challenge any of the six groups that responded to Mayor Greg Ballard’s
request for business ideas.
A new English-style pub and restaurant is planned for Fountain Square, a new bakery is coming to Fishers and Firehouse Subs plans to open its second Indianapolis-area location near 86th Street and Michigan Road.
An Indiana liquor store trade group wants a court to freeze state alcohol permits until a judge can clarify quota laws on
the number of permits allowed.
