Archive for the 'Simon' Category

Should Simon Own General Growth?

Simon Property Group is increasing its bid for General Growth Properties. The largest mall and outlet center owner in the country is committing $1.5 billion toward GGP’s exit from bankruptcy.

This is getting interesting. Simon has more investors on board, but potential GGP acquirer Fairholme Capital Management is against such a plan.
Continue reading ‘Should Simon Own General Growth?’

Express Files IPO, Is in Growth Mode

Express, an apparel retailer with 573 stores that targets men and women in their 20s, looks to raise $200 million in plans to go public. As part of its strategy, the Columbus, OH-based retailer is in the works to open 30 stores annually in North America over the next five years.

The move follows the IPO of Rue21, another apparel concept geared toward both sexes in their teens, albeit that chain has more ambitious growth plans. And observers expect more retail public offerings in 2010.
Continue reading ‘Express Files IPO, Is in Growth Mode’

Simon Fires First Shot for GGP

Simon Property Group finally did what many expected, making a $10-billion bid for General Growth Properties. The move would make the REIT…enormous, upping its portfolio of 320 US malls and outlet centers to 520.

But this deal is far from over. General Growth shareholders don’t seem to be biting as of yet, and Simon could have some problems with General Growth’s creditors.
Continue reading ‘Simon Fires First Shot for GGP’

How Much Bigger Can Simon Get?

Simon Property Group’s acquisition of Prime Outlets’ 22 centers for $2.33 billion was a surprise, not because the deal doesn’t make sense for the REIT, but because we assumed that we’d hear about them buying someone else first.

It’s no secret that the largest mall REIT, which now has more outlet centers than anyone at 63, is vying for some or all of General Growth Properties’ assets as well. How much bigger can Simon get?
Continue reading ‘How Much Bigger Can Simon Get?’

VIDEO: Simon on Buying GGP Malls

Simon Property Group CEO David Simon weighs in on possibly acquiring some of General Growth’s portfolio during a Bloomberg Television interview. “We’re a logical buyer,” he says. “There’s a lot we can do with those properties.”

Simon also says that the industry could see a recovery some time next year if job growth pics up. Click on the image below for the full interview.

Also, RIP Melvin Simon.

Simon Interested in Some GGP Malls

This article about the health of Simon Property Group in the recession, reveals that the mall owner might consider acquiring some General Growth Properties assets when the latter’s bankruptcy proceedings mature.

Said CEO David Simon: “I don’t think we would be interested in the whole company. They have some assets that clearly would fit nicely with ours.”
Continue reading ‘Simon Interested in Some GGP Malls’

Will You See “Paul Blart: Mall Cop?”

Over here at Counter Culture, we love us some NBA, so when there were about 10 nationally televised games on Christmas, we were pretty much glued to the TV.

And about every five minutes there was the trailer for “Paul Blart: Mall Cop,” a silly-looking comedy that we probably won’t be checking out any time soon. (See trailer below.)

We did a quick Google search on it and found, through Wikipedia, that the movie was filmed at two Simon Property Group centers, Burlington (MA) Mall and South Shore Plaza, in Braintree, MA; even though it’s supposed to take place at a fictional (we think) center in New Jersey called West Orange Pavilion.

How’s that for useless knowledge of the day!?!?!


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