Simon Property Group

Simon Property Group

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Simon Property Group

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Description:
Simon Property Group, Inc. is an S&P 500 company ranked as #1 in The U.S. real estate company and real estate investment trust. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers, The Mills, community/lifestyle centers and international properties. It currently owns or has an interest in 393 properties comprising of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG.

History

Simon Property Group was formed in 1993 when the majority of the shopping center interests of Melvin Simon & Associates became a publicly traded company. Melvin Simon & Associates, owned by brothers Melvin Simon and Herbert Simon, was founded in 1960 in Indianapolis, Indiana, and had long been one of the top shopping center developers in the United States.

In 1996, Simon DeBartolo Group was created when Simon Property merged with former rival DeBartolo Realty Corp. This was shortly after DeBartolo Realty became a publicly traded company encompassing the shopping mall interests of the Edward J. DeBartolo Sr. family, another leading developer. Simon DeBartolo rapidly acquired assets in the then-fragmented industry. Notable acquisitions included The Retail Property Trust and a group of...
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