Summary
Simon Property Group Inc., based in Indianapolis, is a retail REIT that is one of the largest owners of upscale shopping centers, shopping centers and lifestyle destinations in North America, Asia and in Europe. In 2016, the company expanded its profile by investing in the retail operations of several well-known retail brands, including JC Penny (with partner Brookfield) and Authentic Brands Group (with partner SPARC). Investments were reconsidered after the pandemic, once consumers began returning to outdoor retail spaces. In 2023, the company began selling its stakes in retail brands. In 1Q24, Simon sold its remaining stake in the ABG brands, which included Aeropostale, Reebok, Nautica, Izod and Forever 21. Additionally, the company holds an 84% stake in the Taubman Group and a 22% stake in Klepierre , a Parisian company. based real estate company. SPG also operates Simon Brand Ventures, which provides real estate appraisals and services.
Simon owns or has interests in 234 properties representing approximately 190 million square feet of leasable space. This includes 39 international properties. Joint ventures accounted for approximately 60% of 2023 revenue. After 2H24, U.S. malls and outlets account for approximately 72% of NOI and international assets account for approximately 9%. Properties in California, Florida, and Texas account for approximately 43% of U.S. NOI. Save
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