Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The
Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation’s largest mall owner succeeds
in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
Simon’s warning was delivered in a letter sent to General Growth a day after the company essentially rebuffed Simon’s hostile
takeover bid.
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.
Harrison Epperly has made a fortune in his business career, but he’s also sparked controversy.
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550
Cold Spring Road on Dec. 30.
The North by Northwest Business Park near 86th Street and Georgetown Road has been sold to firms in Minneapolis
and Baltimore for $29.6 million.
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
Expect another year of rising vacancies, declining property values and distressed sales in the central Indiana commercial
real estate
market. That’s the message from Colliers Turley Martin Tucker in its annual State of Real Estate report.
The land in Brown County will be turned over to the Indiana Division of Forestry.
One of the city’s most prolific commercial real estate brokers is leaving the local office of Colliers Turley Martin Tucker
to join Chicago-based Jones Lang LaSalle.
The city’s largest commercial real estate brokerage is breaking from Colliers International and dropping Tucker from its moniker
for the first time in more than 90 years.
Former YMCA branch at 860 W. 10th St. would be razed to make way for retail and housing.
A Denver-based company that just sold its largest Indianapolis apartment complex has taken its four remaining local properties
off the market.
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.
Locally based Brightpoint Inc. has closed on a $31 million deal to purchase its 495,000-square-foot distribution facility
in Plainfield.
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 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.
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.
Visions for the empty historic building
range from offices to a museum. Two developers propose a boutique hotel on an adjacent parking
lot. Video bonus: Tour the landmark’s interior.
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.
