Profile: Simon Property Group Inc (SPG)
19 Jul 2019
Simon Property Group, Inc., incorporated on March 10, 1998, is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company's partnership subsidiary that owns all of its real estate properties and other assets. As of December 31, 2016, the Company owned or held an interest in 206 income-producing properties in the United States, which consisted of 108 malls, 67 Premium Outlets, 14 Mills, four lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. As of December 31, 2016, it had redevelopment and expansion projects, including the addition of anchors, big box tenants, and restaurants, underway at 27 properties in the United States and it had one outlet and one other retail project under development. Internationally, as of December 31, 2016, it had ownership interests in nine Premium Outlets in Japan, three Premium Outlets in South Korea, two Premium Outlets in Canada, one Premium Outlet in Mexico, and one Premium Outlet in Malaysia. As of December 31, 2016, it also owned an interest in six Designer Outlet properties in Europe and one Designer Outlet property in Canada. As of December 31, 2016, it also had four international outlet properties under development. As of December 31, 2016, it owned a 20.3% equity stake in Klepierre SA, or Klepierre, a real estate company, which owns, or has an interest in, shopping centers located in 16 countries in Europe.
The Company's properties in the United States primarily consist of malls, Premium Outlets, The Mills, lifestyle centers and other properties. As of December 31, 2016, these properties contained an aggregate of approximately 182.3 million square feet of gross leasable area (GLA). Malls contain traditional department store anchor or a combination of anchors and big box retailers with a range of smaller stores connecting the anchors. As of December 31, 2016, its 108 malls were generally enclosed centers and ranged in size from 260,000 to 2.7 million square feet of GLA. As of December 31, 2016, the malls contained in the aggregate more than 13,600 occupied stores, including 504 anchors, which were predominately national or international retailers. Premium Outlets contain a range of designer and manufacturer stores located in open-air centers. As of December 31, 2016, its 67 Premium Outlets ranged in size from 150,000 to 890,000 square feet of GLA. The Premium Outlets are located near major metropolitan areas and/or tourist destinations. As of December 31, 2016, its 14 properties in The Mills are located in metropolitan areas. They have a combination of traditional mall, outlet center, and big box retailers and entertainment uses.
As of December 31, 2016, the Company also had interests in four lifestyle centers and 13 domestic other retail properties. As of December 31, 2016, the lifestyle centers ranged in size from 160,000 to 900,000 square feet of GLA. As of December 31, 2016, the Company owned 134 of its properties, control over 10 properties, in which it had a joint venture interest, and held the remaining 59 properties through unconsolidated joint venture interests. The Company's international properties are managed locally by joint ventures.
Simon Property Group Inc
225 W Washington St
INDIANAPOLIS IN 46204-3438