Simon Property Group and Blackstone Group LP are in “ongoing discussions” for an investment in General Growth after the mall
operator turned down a $10 billion takeover bid from Simon in February, CEO David Simon said.
Homes sold in the first three months of the year totaled 4,634, a 1-percent increase from the 4,593 in the
same period last year. However, total sales volume jumped 12 percent, to $637 million.
The goal of the new law is to reduce tax fraud from Hoosiers who file for the Homestead deduction on more than one residence.
The 25-year-old Prince/Alexander architecture firm is on the path to being acquired by Dallas-based REES Associates, an employee-owned
firm with 120 architects.
General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Property Group.
Renovation work finally has begun on the Penn Arts building at 16th and Pennsylvania streets.
Crews will begin in late April demolishing the first of 74 homes south of downtown Franklin damaged by massive flooding in
June 2008. Officials still haven’t decided how to reuse the land, and residents are torn.
Efforts to save the former home of Crawford's Bakery at 16th Street and Capitol Avenue appear to be gaining momentum.
IBJ's new video feature on restaurateurs tries curbside
service at Speedway's Mug-n-Bun, unchanged in concept since the 1960s but now sporting subtle tweaks.
The Commerce Department's report on new home sales Friday is forecast to show a 7.1 percent increase to a seasonally adjusted
annual rate of 330,000, according to economists polled by Thomson Reuters. That's up from an all-time low of 308,000 in
February.
John Bales' firm earned $2.9M in commissions on leases for state agencies and $270,000 in commissions
on the sale of surplus state properties. He also acted as a developer for public-sector
tenants—putting them into buildings owned by him or his associates.
Ray Skillman bought five car lots in the last 12 months from other dealers who have struggled during the recession. Skillman now ranks among the five largest dealers in the area, and his chain is poised
for even more growth.
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
Owner of Flaherty & Collins’ apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It’s
the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
Simon Property Group Inc. added four backers to its proposal to help rival mall owner General Growth Properties Inc. emerge
from bankruptcy, increasing the plan’s total investment by $1.1 billion.
Vacancy rates unseen in 20 years are hampering efforts by developers.
Thirteen years after Mayor Jim Brainard first described his vision for a new downtown along Range Line Road, Carmel City Center
is starting to look like a city.
Melvin Simon’s daughter Deborah is lashing out at her stepmother Bren in a new court filing, saying she was “mentally
and verbally abusive” toward the billionaire late in his life and kept him isolated from friends and family.
Fountain Square eatery owner Taki Sawi is one of only three restaurant operators to receive an award given by National Restaurant
Association every two years.
Texas-based Tilt Family Entertainment acquires GameWorks chain, which closed last month, leaving gaping hole on fourth floor
of mall.
