Former President Bill Clinton described Melvin Simon as one of the most remarkable people he’s ever met as he gave a eulogy
today during the funeral for the billionaire shopping mall developer and Indiana Pacers co-owner.
Melvin Simon, who died at 82 on Sept. 16, grasped early on that creation of the nation’s interstate system would pave the way for
large, enclosed shopping centers.
The passing of Mel Simon adds more uncertainty to the Indiana Pacers’ future in Indianapolis.
A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic
cancer.
Melvin Simon, a tailor’s son who earned billions building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis, has died. He was 82.
Two Anderson siblings are buying the city’s Mounds Mall from the Florida-based company that has owned it for the past six
years.
Simon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. The key has been well-timed acquisitions.
Sales still are suffering at shopping centers owned by Simon Property Group Inc., but the Indianapolis-based
mall giant managed in the second quarter to keep occupancy steady and eke out an increase in average rent rates.
Indianapolis shopping mall giant Simon Property Group Inc. today said it lost $20.8 million in
the second quarter in what it called a “difficult retail environment.”
The big cheese at Simon Property Group is wedged among the “top gun” executives in the U.S.
Simon Property Group Inc. has filed suit against Spicy Pickle franchisee AJ Enterprises LLC, seeking more than $977,000 in
unpaid rent for a prime space at Castleton Square Mall.
Locally based Simon Property Group Inc. has added 18.6 million shares to its stake in the United Kingdom’s largest owner of
shopping malls, Liberty International Plc.
Here’s more evidence we’re in strange times: Indianapolis’ real estate investment trusts have been issuing hundreds of millions
of dollars of stock at woefully low prices—and getting a pat on the back from their shareholders for doing so.
The old adage that retail follows rooftops is only partially true; retail also follows taxpayer-funded incentives.
During one of the worst markets for real estate in decades, at a time when developers of all sizes are shedding employees, officials with Simon Property Group Inc. continue to insist they have had zero layoffs.
The Simon family’s role in building the city has come at a steep price for taxpayers. Simon and
its business interests in the last 20 years have collected local government incentives
worth more than $400 million, an IBJ tally of those deals shows.
Despite assurances of strength, Simon Property Group Inc. has decided to pay 90 percent of its dividend in stock, a move that allows the company to hold onto $925 million in cash this year but could alienate shareholders drawn by the dividend.
Kite Realty Group Trust has joined local peers Duke Realty Corp. and Lauth Group Inc. in laying off employees as it copes
with dried-up credit and a soft retail market.
Simon Property Group Inc. has been readying its balance sheet and sizing up buyout targets in hopes of capitalizing on
a worldwide markdown on shopping-center owners.
Come Sept. 19, Nordstrom Inc.’s got a brand new bag–and, well, shoes, hat and ensemble to match–as the department store
opens a second Indianapolis location, in the Fashion Mall at Keystone. Residing in Parisian’s former quarters,
the new store is poised to burnish the mall’s reputation as the region’s highest-end shopping destination.
