David Simon tightens screws in quest for biggest deal yet
Analysts say Simon has reason to covet Macerich, whose 40 best malls have lofty sales per square foot of $618.
Simon Property Group
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Macerich investors want more to clinch mall megadeal
Simon’s acquisition offer is only 6.6 percent higher than Macerich’s average price in the previous 20 days. One reason the premium looks miniscule is because Macerich’s stock had already jumped 24 percent since November on takeover speculation fanned by Simon.
Macerich, Simon shares rise on talk of acquisition
Macerich Co. shares had their biggest increase in three months Thursday morning after the Wall Street Journal reported that Simon Property Group Inc., the largest U.S. mall owner, has made approaches to buy the company.
Simon interested in acquiring West Coast mall owner
Simon Property Group Inc. has approached Santa Monica, California-based Macerich Co. about an acquisition after taking a stake in the company last year, sources say. Macerich, with a market value of $13.3 billion, has a high concentration of West Coast properties.
Simon forming $1.8B joint venture with retailer Hudson’s Bay
Simon, the biggest U.S. mall owner, will contribute $278.5 million and have a stake of 20 percent in the joint venture with Canada’s oldest company.
Another clothing retailer files for bankruptcy
Cache Inc., which has a store in the Fashion Mall at Keystone, has filed for Chapter 11 protection and might liquidate its inventory. Simon Property Group is the retailer’s largest creditor.
Simon posts strong quarterly, annual earnings
Quarterly profit grew to $405 million, as occupancy in Simon Property Group’s retail properties increased to 97.1 percent, a company record for year-end occupancy.
Indiana companies smack in the middle of global spinoff spree
Just call 2014 the year of the corporate spinoff frenzy. And 2015 might be just as crazy.
REIT stock prices climb on rebounding economy
Shares of real estate investment trusts Duke, Kite and Simon have all hit 52-week highs this month, with Simon climbing above $200 for the first time since the company went public.
Simon launches retail startup competition
"Simon Launch" winners will receive cash, support and the opportunity to snag investments from the company's venture capital arm, which is deploying millions of dollars in startups.
Tenacity helped seal David Simon’s latest mega-deal
Just five days after Simon Property Group spun off its strip centers and smaller malls into Washington Prime Group, executives began plotting a multibillion-dollar acquisition.
Simon headquarters repairs spur blame game
Simon Property Group Inc.’s downtown headquarters is showing signs of structural damage, and building contractor Duke Construction Limited Partnership blames the problems on design flaws by CSO Architects Inc.
City, Simon strike deal to keep Circle Centre anchor
Under terms of the deal, Carson Pirie Scott will save $300,000 annually through the next three years under a rent reduction at the downtown store.
Simon discloses stake in shopping-mall owner Macerich
Indianapolis-based Simon Property Group Inc. said it has accumulated a 3.6-percent stake in shopping mall rival Macerich Co. and wants to buy more shares.
Sources: Simon eyeing Anson for outlet mall
The Indianapolis-based mall developer is planning to build on 50 acres near Interstate 65 and Whitestown Parkway in Boone County, sources say, and could have a deal finalized early next year.
Simon Property stock continues to defy drumbeat of doom
Since David Simon became CEO in 1995, Simon Property shares have posted a total return of 2,150 percent—a dazzling run extending nearly two decades.
Washington Prime reports profit in first full quarter
The shopping center company, which was spun off from Simon Property Group Inc. in May, earned $38.8 million, or 21 cents per share, in the third quarter.
Circle Centre bulking up street-side dining
Two more restaurants are set to join Yard House in vacant Circle Centre mall space along Maryland Street.
Simon profit dips but outlook improves
Simon Property Group Inc. on Wednesday said its third-quarter profit fell due to recent costs related to refinancing its debt, but that otherwise performance for the quarter was strong.
Shopping malls brace for wave of consolidation
There’s a hunger in the retail industry for lower-tier, “B” shopping centers, seen as a bargain by potential owners. A $4.3 billion deal in the works involving a Simon Property Group spinoff could trigger more transactions.