Simon Property Group Inc. said retailers
leasing space in its malls have managed to weather the economic downturn and are already eyeing recovery plans for when the
economy improves.
Under the terms of the deal, Simon paid about $700 million for the owners’ interests in Baltimore-based Prime Outlets and
assumed $1.55 billion of Prime’s debt and preferred stock.
The battle over the estate of Melvin Simon has thrown a spotlight on a New Jersey development project that, by itself, has
made many Simon family members multi-millionaires.
The partnership between Simon Property Group and technology company Shopkick Inc. is a
big step in realizing retailers’ long-held dream of using cell phones to beam ads and coupons to people passing by.
Hamilton County Judge William J. Hughes said it's clear that all the parties involved in a series of
disputes surrounding
late mall billionaire Melvin Simon's estate need to "sit across the table from each other and try to work things
out."
Simon Property Group Inc., the largest U.S. shopping-mall owner, plans to sell $750 million of notes to fund a tender offer
for outstanding debt for the second time this year.
The first few months of 2009 were not an easy time to be CEO of Simon Property Group Inc. David Simon was feeling pressure
from shareholders, lenders, employees and family members.
The influence of founders’ families in public companies usually wanes over time. But few firms accelerate the process,
as Finish Line is doing.
A Hamilton County judge has ordered a halt to distributions from the estate of the late Melvin Simon to his widow Bren or
any other beneficiary without the court's approval.
Lawyers for Bren Simon’s stepchildren contend she’s incapable of serving as trustee of her late husband’s estate and should
be removed. A Hamilton Superior Court judge took the matter under advisement and will rule at a later date.
The Indianapolis-based real estate giant experienced higher occupancy and sales at its shopping malls compared to a year ago.
One of Indiana’s largest privately held developers is suing Simon Property Group Inc., alleging the nation’s largest
mall owner abused its “market power” to bully two national retailers into backing out of leases at a lifestyle
mall near Mishawaka.
Shop owners realize that landlords, already facing rising vacancies, are sometimes willing to sacrifice financially to keep properties filled and vibrant.
A judge is scheduled to hear final arguments Thursday over whether Bren
Simon should remain as trustee for her late husband's roughly $2 billion estate. A video deposition has provided a glimpse
into ugly family conflicts.
Attorneys for Bren Simon argued Friday she has served capably to date as executor of the estate of her late husband, Melvin
Simon, as shown in a series of moves she made to transfer his stake in the Indiana Pacers.
In a deposition aired during an estate hearing, Bren Simon described her stepchildren as spoiled, vicious and hurtful,
and
said they refused to accept her as family during 37 years of marriage to late mall billionaire Melvin Simon.
Details of years of squabbling between family members of the shopping mall magnate Mel Simon have begun to emerge in a court
battle over the late billionaire's estate.
General Growth expects to come out of bankruptcy court with 180 properties, making it the second-largest shopping mall owner
behind Indianapolis-based rival Simon Property Group Inc.
The longtime accounting firm for Simon family interests objected to subpoenas it received from Melvin Simon’s daughter
Deborah, saying the information
requested was far too broad.
Deals for both Nordstrom and Carson Pirie Scott are up for renewal in the coming months.
