Simon Property’s quarterly profit tumbles
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
Simon Property Group
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Simon, partner selling European malls for $981M
Unibail-Rodamco SE, Europe’s biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc.
$981 million for stakes in seven malls in France and Poland.
Deborah Simon says other potential trustees have conflicts
Melvin Simon’s daughter, who’s seeking to remove her stepmother from overseeing a trust that holds her late father Melvin’s
fortune, says a corporate trustee is a better option than brother David Simon or family financial adviser Bruce Jacobson.
Simon Property Group enters dispute over founder’s fortune
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.
Simon Property accepts $2.3B of notes in offer
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
Simon Property Group rolls out $2.25B offering
Proceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.
NEWSMAKER: Mel Simon was shopping mall pioneer
Mel Simon, who
died at 82 on Sept. 16, changed how America shops. He was chairman emeritus of locally
based Simon Property Group Inc., the nation’s largest owner of retail real estate.
Lauth Group leads slide in commercial real estate
The outlook for commercial real estate development continued to worsen in 2009, as one major name faltered and other companies
scrambled to redesign their business models and capitalize on the carnage.
General Growth says it will consider acquisition offers
General Growth Properties, the Chicago mall owner that Indianapolis-based Simon Property Group Inc. is interested in buying, said the company will consider all offers and may sell shares to the public to raise capital.
General Growth deal would extend Simon’s mall dominance
Wall Street analysts have described the potential sale of Chicago-based General Growth Properties as a “once-in-a-lifetime
opportunity” for a company to make “the deal of the decade” in the shopping-mall business.
UPDATE: Simon stock jumps on $2.3B acquisition
Adding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25
million square feet of space.
Simon buying Prime Outlets in $2.3B deal
Simon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a
privately held firm that owns 22 of the giant properties.
Simon buying General Growth debt for possible takeover
The Indianapolis-based shopping mall owner is facing competition for General Growth from Toronto-based Brookfield Asset Management Inc., which also has been buying up General Growth’s debt.
General Growth’s refinancing plan could thwart Simon
General Growth Properties Inc., the nation’s second-largest shopping mall operator, said lenders have agreed
to restructure about $9.7 billion in debt. The agreements could put a damper on the acquisition aspirations of rival Simon
Property Group Inc.
Report: Simon considers sale of European properties
Simon Property Group Inc. may sell several of its properties in Europe to help raise funds for a possible bid for bankrupt
rival General Growth Properties.
Simon exploring bid to purchase rival General Growth
General Growth is the second-largest U.S. mall owner, trailing only Indianapolis-based Simon Property Group, with more than
200 regional malls in 44 states.
Retailers surprisingly upbeat as they head into holidays
Those in the trenches say this won’t be a blockbuster Christmas, but it won’t be horrid, either.
Simon reports slight improvement in quarterly results
Simon Property Group Inc. reported slightly higher funds from operation for its fiscal third quarter, but FFO fell on a per-share
basis thanks to the company’s issuance of more than 50 million new shares so far this year.
Shopping center vacancies continue to climb
Vacancies at U.S. shopping malls and retail strip centers have climbed to steep levels, a trend that Indianapolis-based commercial
real estate companies Simon Property Group Inc. and Kite Realty Group Trust haven’t been able to dodge.
Widow likely biggest beneficiary of Simon’s estate
Bren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more,
wealth managers speculate, based on the legal and tax issues involved in such a large estate.