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3 days ago · When mall giant Simon Property Group bought fashion retailer Aéropostale out of bankruptcy in 2016, it was viewed by the market as a short-term gamble from a company desperate to avoid a new wave ...
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Simon's malls were temporarily shut down at various points in 2020, causing all sorts of problems for the real estate investment trust (REIT). For example, it ended up suing key tenantsthat decided not to pay rent, and it cut its dividend by nearly 40%. Although occupancy didn't fall off a cliff, it took months for consumers to start heading to the...
There's only one problem with this view of things. Prior to the pandemic, Simon and its mall peers were dealing with the so-called retail apocalypse. While many attribute this to the ongoing shift toward online shopping, it was and is a much bigger issue. Simplifying things, retailers that have fallen behind customer trends (from fashion choices to...
After the second dividend increase in less than a year, Simon looks like it is surviving the coronavirus hit better than any of its peers. For most investors looking at the mall space, it is probably the best pick. And that remains true even as it continues to deal with the occupancy stress from the retail apocalypse, a headwind that existed before...
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Nov 2, 2021 · 0:00. 1:05. A year after acquiring JC Penney out of bankruptcy via a partnership, Simon Property Group CEO and President David Simon said the retailer's business has stabilized. Simon told...
- Alexandria Burris
- Investigative Reporter
4 days ago · In Q1 the net operating losses from Simon Property Group’s “other platform investments” — which included J.C. Penney, Sparc, Authentic, e-commerce company Rue Gilt Groupe and real estate ...
Nov 10, 2020 · Simon Property Group, America’s biggest mall owner, and Brookfield Asset Management have been given the green light to buy US department store chain JCPenney out of bankruptcy for $1.75bn,...
3 days ago · Express Deal with WHP will Require no Capital from Simon. Simon also revealed on the call that a similar venture with brand management firm WHP Global, to buy Express out of bankruptcy, would require no capital on the part of Simon Property Group if it goes forward. “We were approached by the IP owner,” Simon said on the call.
Sep 9, 2020 · Sep 9, 2020, 12:25 PM PDT. An empty parking lot at a closed JCPenney store in Roseville, Michigan. AP Photo/Paul Sancya. JCPenney is being acquired by mall owners Simon Property Group and...
