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BUSINESS
February 17, 2010 | By Sandra M. Jones
Simon Property Group Inc., the nation's largest mall operator, offered to buy General Growth Properties Inc. out of Chapter 11 bankruptcy protection for more than $10 billion in a deal that would give shareholders -- typically left empty-handed in bankruptcy reorganization -- $9 a share. The Indianapolis company said it sent an offer letter to acquire Chicago's General Growth on Monday but hadn't received a response. General Growth is the No. 2 U.S. mall operator and counts among its Southern California properties the Glendale Galleria, Northridge Fashion Center and Burbank Town Center.
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BUSINESS
November 22, 2013 | By Roger Vincent
The Torrance Marriott South Bay, a 17-story hotel next to Del Amo Fashion Center, has been sold to a Chinese real estate developer for $74 million. Sichuan Xinglida Group Enterprises Co., which has built numerous mixed-use projects in mainland China, bought the hotel through its U.S. subsidiary XLD Group, real estate broker John Strauss said. The new owner will keep Marriott as the operator of the 487-room hotel but plans to renovate the property and eventually reposition it as a more upscale inn, said Strauss of Jones Lang LaSalle.
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BUSINESS
August 11, 2010
Associated Press The nation's biggest mall operator is teaming up with a Silicon Valley start-up to reward smart-phone-equipped shoppers for walking into its shopping centers. The partnership between Simon Property Group, which owns 370 shopping centers, including two dozen in California, and technology company Shopkick Inc. is a big step in realizing retailers' long-held dream of using cellphones to beam ads and coupons to people as they're passing by. Simon is launching the program by the end of the month in 25 malls in New York, Chicago, Southern California and the San Francisco Bay Area.
BUSINESS
August 11, 2010
Associated Press The nation's biggest mall operator is teaming up with a Silicon Valley start-up to reward smart-phone-equipped shoppers for walking into its shopping centers. The partnership between Simon Property Group, which owns 370 shopping centers, including two dozen in California, and technology company Shopkick Inc. is a big step in realizing retailers' long-held dream of using cellphones to beam ads and coupons to people as they're passing by. Simon is launching the program by the end of the month in 25 malls in New York, Chicago, Southern California and the San Francisco Bay Area.
BUSINESS
November 22, 2013 | By Roger Vincent
The Torrance Marriott South Bay, a 17-story hotel next to Del Amo Fashion Center, has been sold to a Chinese real estate developer for $74 million. Sichuan Xinglida Group Enterprises Co., which has built numerous mixed-use projects in mainland China, bought the hotel through its U.S. subsidiary XLD Group, real estate broker John Strauss said. The new owner will keep Marriott as the operator of the 487-room hotel but plans to renovate the property and eventually reposition it as a more upscale inn, said Strauss of Jones Lang LaSalle.
BUSINESS
January 15, 2002 | From Reuters
Further details have emerged about the agreement by upscale U.S. shopping mall owner Rodamco North America to a $2.2-billion buyout offer by Westfield America Inc., Simon Property Group Inc. and Rouse Co., ending a five-month takeover battle. Much of the assets of Rotterdam, Netherlands-based Rodamco, which include posh properties such as Bergdorf Goodman on New York's 5th Avenue and Copley Place in Boston, were won by Westfield America.
BUSINESS
February 24, 2010 | Bloomberg News
Brookfield Asset Management Inc. is in talks with General Growth Properties Inc. to take a 30% stake in the shopping mall owner as it comes out of bankruptcy, said a person familiar with the negotiations. The plan by Toronto-based Brookfield would give General Growth a higher valuation than a $10-billion takeover bid by Simon Property Group Inc., said the person, who declined to be identified because the talks aren't public. Simon, the largest U.S. shopping mall owner, has offered to buy General Growth in a deal that would give equity investors about $9 a share and repay unsecured creditors in full.
BUSINESS
February 17, 1999 | KURT STREETER, TIMES STAFF WRITER
Time Inc., in its second custom-publishing deal in two weeks, said Tuesday that it will produce a specialty magazine for shoppers at malls owned by Simon Property Group, the largest U.S. owner of commercial malls. Starting in March, the companies will publish S, a monthly magazine that will be distributed free at Simon's 243 malls. The Indianapolis-based company owns four shopping centers in Southern California: Mission Hills Mall, Brea Mall, Westminster Mall and Laguna Hills Mall.
BUSINESS
July 2, 2003 | From Bloomberg News
Two of California's largest shopping centers are changing hands as big investors continue to flock to one of the best-performing sectors of the commercial real estate market. Virginia-based Mills Corp. said Tuesday that it completed the previously reported acquisition of the Del Amo Fashion Center in Torrance for $442 million. Del Amo, at 2.
BUSINESS
February 25, 2010 | By Roger Vincent
General Growth Properties, owner of the Glendale Galleria and other large Southland shopping centers, said Wednesday that it had reached an agreement with a Canadian investor that would enable the mall owner to leave Chapter 11 bankruptcy protection. Brookfield Asset Management Inc., which is part of a company that owns a handful of premier office buildings in Los Angeles County, would invest $2.5 billion in cash in General Growth stock in return for 30% ownership. The deal must be approved by a Bankruptcy Court judge, but if the agreement stands it could rescue Chicago-based General Growth from a hostile takeover attempt by archrival Simon Property Group, the country's largest mall operator.
BUSINESS
February 25, 2010 | By Roger Vincent
General Growth Properties, owner of the Glendale Galleria and other large Southland shopping centers, said Wednesday that it had reached an agreement with a Canadian investor that would enable the mall owner to leave Chapter 11 bankruptcy protection. Brookfield Asset Management Inc., which is part of a company that owns a handful of premier office buildings in Los Angeles County, would invest $2.5 billion in cash in General Growth stock in return for 30% ownership. The deal must be approved by a Bankruptcy Court judge, but if the agreement stands it could rescue Chicago-based General Growth from a hostile takeover attempt by archrival Simon Property Group, the country's largest mall operator.
BUSINESS
February 24, 2010 | Bloomberg News
Brookfield Asset Management Inc. is in talks with General Growth Properties Inc. to take a 30% stake in the shopping mall owner as it comes out of bankruptcy, said a person familiar with the negotiations. The plan by Toronto-based Brookfield would give General Growth a higher valuation than a $10-billion takeover bid by Simon Property Group Inc., said the person, who declined to be identified because the talks aren't public. Simon, the largest U.S. shopping mall owner, has offered to buy General Growth in a deal that would give equity investors about $9 a share and repay unsecured creditors in full.
BUSINESS
February 17, 2010 | By Sandra M. Jones
Simon Property Group Inc., the nation's largest mall operator, offered to buy General Growth Properties Inc. out of Chapter 11 bankruptcy protection for more than $10 billion in a deal that would give shareholders -- typically left empty-handed in bankruptcy reorganization -- $9 a share. The Indianapolis company said it sent an offer letter to acquire Chicago's General Growth on Monday but hadn't received a response. General Growth is the No. 2 U.S. mall operator and counts among its Southern California properties the Glendale Galleria, Northridge Fashion Center and Burbank Town Center.
BUSINESS
July 2, 2003 | From Bloomberg News
Two of California's largest shopping centers are changing hands as big investors continue to flock to one of the best-performing sectors of the commercial real estate market. Virginia-based Mills Corp. said Tuesday that it completed the previously reported acquisition of the Del Amo Fashion Center in Torrance for $442 million. Del Amo, at 2.
BUSINESS
December 6, 2002 | From Bloomberg News
Simon Property Group Inc., the largest mall owner, made a $3.83-billion hostile bid for rival Taubman Centers Inc. The $18-a-share tender offer is 50 cents more than the unsolicited bid Taubman Centers rejected last month. Simon owns six properties in California, including Brea Mall, Westminster Mall and the Shops at Mission Viejo. Taubman owns the Beverly Center in Los Angeles. Taubman Center shares rose 29 cents to $16.75, and shares of Indianapolis-based Simon Property rose 28 cents to $33.
BUSINESS
January 15, 2002 | From Reuters
Further details have emerged about the agreement by upscale U.S. shopping mall owner Rodamco North America to a $2.2-billion buyout offer by Westfield America Inc., Simon Property Group Inc. and Rouse Co., ending a five-month takeover battle. Much of the assets of Rotterdam, Netherlands-based Rodamco, which include posh properties such as Bergdorf Goodman on New York's 5th Avenue and Copley Place in Boston, were won by Westfield America.
BUSINESS
March 27, 1996 | From Times Staff and Wire Reports
Simon Property Group agreed Tuesday to acquire DeBartolo Realty Co. in a deal worth about $3 billion that would combine two prominent American companies whose founding families were pioneers in the development of suburban shopping malls. Simon Property's proposed purchase of DeBartolo Realty would create a real estate giant, with 183 regional and community shopping centers in 32 states. The largest shopping mall in the U.S.
BUSINESS
December 6, 2002 | From Bloomberg News
Simon Property Group Inc., the largest mall owner, made a $3.83-billion hostile bid for rival Taubman Centers Inc. The $18-a-share tender offer is 50 cents more than the unsolicited bid Taubman Centers rejected last month. Simon owns six properties in California, including Brea Mall, Westminster Mall and the Shops at Mission Viejo. Taubman owns the Beverly Center in Los Angeles. Taubman Center shares rose 29 cents to $16.75, and shares of Indianapolis-based Simon Property rose 28 cents to $33.
BUSINESS
February 17, 1999 | KURT STREETER, TIMES STAFF WRITER
Time Inc., in its second custom-publishing deal in two weeks, said Tuesday that it will produce a specialty magazine for shoppers at malls owned by Simon Property Group, the largest U.S. owner of commercial malls. Starting in March, the companies will publish S, a monthly magazine that will be distributed free at Simon's 243 malls. The Indianapolis-based company owns four shopping centers in Southern California: Mission Hills Mall, Brea Mall, Westminster Mall and Laguna Hills Mall.
BUSINESS
March 27, 1996 | From Times Staff and Wire Reports
Simon Property Group agreed Tuesday to acquire DeBartolo Realty Co. in a deal worth about $3 billion that would combine two prominent American companies whose founding families were pioneers in the development of suburban shopping malls. Simon Property's proposed purchase of DeBartolo Realty would create a real estate giant, with 183 regional and community shopping centers in 32 states. The largest shopping mall in the U.S.
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