Simon raises outlook after quarterly results top expectations
The Indianapolis-based shopping mall giant benefitted from a return of foot traffic to shopping centers after pandemic restrictions eased across the country.
Simon Property Group
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Circle Centre owners take first steps in recasting downtown mall
The ownership group plans to begin conversations with potential developers in the near future, after receiving suggestions from four design groups for remaking the massive property as a mixed-use district.
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Report: Simon Property, Brookfield offer to buy Kohl’s for more than $8.6B
Indianapolis-based Simon and Brookfield, which together bought rival department-store chain J.C. Penney Co. out of bankruptcy, have offered $68 a share for Kohl’s, according to people with knowledge of the talks.
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Circle Centre ownership largely the same after 27 years
The disclosure of the group’s composition is the first since the mall opened in 1995, and comes about one week after Circle Centre Development acknowledged Simon Property Group’s exit.
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Simon unloads ownership stake in struggling Circle Centre mall
The remaining owners announced Friday that they were soliciting ideas for ways to redevelop the shopping center with an eye to multiple uses.
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Articles
Simon raises financial outlook amid improving business conditions
Indianapolis-based Simon Property Group Inc.—the largest owner of shopping malls in the United States—on Monday reported second quarter financial results that exceeded analyst expectations.
Stocks skid as virus fears shake markets; Dow falls 2.1%
Indianapolis-based shopping mall owner Simon Property Group was among the companies hit hard Monday, with its stock falling 5.9%, to $117.19 per share.
Authentic Brands, owner of Forever 21 and Brooks Brothers, files for IPO
Indianapolis-based Simon Property Group Inc. is among Authentic Brands Group’s largest shareholders.
Jeweler Alex and Ani files bankruptcy after rapid expansion
Indianapolis-based mall owner Simon Property Group is among the retailer’s largest unsecured creditors; it is owed more than $3 million in rent payments.
‘I finally did it’: Students at Simon’s mall-based academy celebrate graduation
Simon Youth Academy, an alternative high school in Indianapolis Public Schools, was created to help juniors and seniors in danger of dropping out. This year, 62 students earned diplomas from the school based in Circle Centre mall—the most in its six-year history.
A 33-year-old Simon becomes force inside family company
Eli Simon, whose grandfather and great-uncles founded Simon Property Group more than a half-century ago, is quietly emerging as a key executive in the retail real estate empire.
Simon joint venture to buy 300-store Eddie Bauer
The outdoor gear and apparel retailer is slated to join a growing stable of high-profile retail brands owned by Indianapolis-based Simon Property Group and its partner.
Simon raises financial outlook for 2021 after solid first quarter
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.
Simon no longer managing day-to-day operations at downtown’s Circle Centre mall
Property management firm JLL sent a letter, dated April 21, to tenants to inform them that it had taken over mall management and said it is in the process of hiring a general manager for the property.
Owner of Carmel’s Clay Terrace acknowledges possible bankruptcy filing
Washington Prime Group, a Simon Property Group spinoff that owns several other local shopping centers, barely missed defaulting on a $23.2 million interest payment this week before securing a forbearance agreement that ends on March 31.
Simon strikes rent deal to keep Ann Taylor, Loft and Lane Bryant stores open
New York City-based RCS said the agreement Simon Property Group made with Premium Apparel LLC will keep all 235 stores in Simon malls open.
Mall giant Simon saw profit drop last year due to pandemic
Indianapolis-based Simon said it lost about 20% of its total shopping days last year at its U.S. malls because of government-mandated shutdowns related to the pandemic.
Simon Property seeks to raise $300M with blank check company filing
Simon Property Chairman and CEO David Simon will serve as chairman of the special purpose acquisition company. His 33-year-old son, Eli Simon, senior vice president of corporate investments at Simon Property, will be its CEO.
Private individual, residential developer to acquire former Simon estate in Carmel
The Great American Songbook Foundation said it is nearing the sale of its 107-acre Asherwood estate in Carmel to a private individual and a developer that wants to turn part of the property into an estate community.
Simon Property Group executive takes over as interim CEO at JC Penney
The new owners of JC Penney replaced CEO Jill Soltau less than a month after re-launching the department store chain that went bankrupt during the pandemic.
U.S. stocks fall as investors turn cautious following records
Among the companies losing ground Tuesday was Indianapolis-based Simon Property Group Inc., which fell 2.6% after the shopping mall operator completed its $3 billion purchase of an 80% stake in rival Taubman Centers.
Simon Property reversing pandemic-related executive pay cuts
Indianapolis-based shopping mall giant Simon Property Group will reinstate the pay of executives and board members who had been working under pandemic-related pay cuts since spring, the company announced Monday.
Simon strikes new deal to buy Taubman, with price chopped by 20%
Simon, the nation’s largest mall owner, had said in February that it would pay $3.6 billion for 80% of Michigan-based Taubman Centers Inc. But it announced in June it wanted out of the deal, a stance that landed the companies in court.
Simon, partners plan to shake up merchandise mix at J.C. Penney
Simon Property Group, which is expected to acquire J.C. Penney out of bankruptcy with partners in an agreement approved Monday, reported third-quarter results that fell short of Wall Street expectations.