Simon Property hiked CEO’s pay 34.7 percent last year
David Simon’s $4.6 million in total compensation last year was $1.2 million more than in 2008. The rest of his management
team’s pay declined or remained flat.
Commercial Real Estate
Articles
Downtown buildings land arts tenants
Vonnegut Memorial Library Inc. will move into 1,100 square feet at 340 N. Senate Ave. The Arts Council of Indianapolis will
occupy 5,400 square feet at 922 N. Pennsylvania St.
Fishers Town Council set to review auto mall plans
Butler Automotive Group is proposing a $19 million development along Indiana 37 that could include five auto dealerships and
create about 230 jobs.
Another General Growth suitor enters fray
Elliott Associates LP and Paulson & Co. are said to be discussing a plan to team with Brookfield Asset Management Inc. to
bring mall owner General Growth Properties Inc. out of bankruptcy, competing with Simon Property Group.
Prosecutor Brizzi defends no-cost real estate deal
Marion County Prosecutor Carl Brizzi paid nothing for a 50-percent stake in an Elkhart office building he acquired with a
local defense attorney.
Simon Property Group adds Glasscock to board
Former WellPoint Inc. leader Larry Glasscock has joined the board of directors of the Indianapolis-based real estate giant.
Simon weighs new General Growth bid, sources say
Simon Property Group Inc. is considering raising its $10 billion buyout offer for rival shopping mall owner General Growth
Properties Inc. as early as this week.
Judge: Bren Simon can’t liquidate Simon Property holdings
A Hamilton County judge says Mel Simon’s widow can’t cash in partnership units worth more than $500 million.
No buyers surfacing for former Winona Hospital
As of Monday morning, the Marion County Metropolitan Development Commission had received no bids to buy the property. MDC
is set to begin reviewing bids at its Wednesday meeting.
Simon, rival seek foreign investors to back General Growth bid
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General
Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial
Times of London.
Simon says new General Growth plan is less uncertain
A new plan by mall owner General Growth Properties Inc. to exit bankruptcy resolves some uncertainty rival bidder Simon Property
Group Inc. has criticized, Simon CEO David Simon says.
Brizzi’s lease deals benefited friend, donor
Records show Marion County Prosecutor Carl Brizzi directed lucrative work for the Prosecutor’s Office to his friend, business
partner and political contributor John Bales.
Marine tech unit to fill four floors at struggling M&I Plaza
A 10-year, $20 million deal for a civilian division of the U.S. Marine Corps to occupy four floors of the 28-story M&I
Plaza building downtown will push
the city’s sixth-largest office tower from a woeful 30-percent occupancy rate to about 50 percent.
Recycler J. Solotken & Co. recycles old building
Century-old firm moves from facility it had occupied since 1936 to former home of Frank E. Irish Co.
General Growth investors add $3.93B to Brookfield plan
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered
to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
Simon Property CEO uses hard-nosed style to excel at acquisitions
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property
Group Inc. into the nation’s largest mall owner—is trying to land his biggest deal yet.
Motorsports park proposed for southwest side of Indy
Plans call for a Motocross track, one-fifth-mile dirt track and ATV trails on
36 acres near Interstate 465 and Mann Road.
Bankruptcy court gives General Growth more time
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers–including a $10 billion bid from Indianapolis-based Simon Property Group Inc.
Bankruptcy court gives Simon Property target more time
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers.
Creditors: General Growth biased toward Brookfield proposal
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s
agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property
Group also has bid to acquire the bankrupt company.