Recent events
Recent events tied to this brand in public sources.
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2020
Simon completes merger with Taubman
Simon Property Group completed its $3.4 billion merger with Taubman Centers. Following the merger, Simon owns an 80% interest in The Taubman Realty Group Limited Partnership, and the Taubman family owns the remaining 20%.
2020
JCPenney completes sale of most retail and operating assets
JCPenney completed the sale of substantially all of its retail and operating assets to Simon Property Group and Brookfield Asset Management.
2020
Simon Property Group prices upsized stock offering
Simon Property Group announced that it had priced an upsized public offering of 19,250,000 common shares at $72.50 per share; the offering was expected to close on November 23, 2020, subject to customary closing conditions.
2020
Simon Property and Taubman Centers settle dispute over transaction
Simon Property and Taubman Centers settled their legal dispute over the transaction. Under revised terms, Simon would pay $2.65 billion for an 80% stake in Taubman Realty Group, at $43 per share instead of the previously announced $52.50.
2020
DHL opens mobile pop-up store in Katy
DHL Express opened a mobile DHL ServicePoint pop-up store in Katy, Texas, expanding its U.S. retail locations.
2020
Brookfield and Simon acquire JCPenney assets
Brookfield Property Group and Simon Property Group purchased a substantial part of JCPenney's retail and operating assets for $1.75 billion.
2020
Simon Property Group and Brookfield offered J.C. Penney rescue funding
Simon Property Group and Brookfield Property Partners were reported to be close to completing negotiations to provide $800 million in support to bankrupt retailer J.C. Penney, including cash and debt assumption. J.C. Penney planned to seek bankruptcy court approval for the agreement the following month.
2020
Simon-Brookfield joint venture to acquire JCPenney assets
Lawyers for JCPenney said in bankruptcy court that its retail and operating assets are set to be acquired by a joint venture between Simon Property Group and Brookfield Property Partners. The transaction still requires bankruptcy-court approval, and competing bids may be evaluated.
2020
Simon Property Group partners with ShopShops
Simon Property Group is partnering with livestream shopping app ShopShops, with the partnership involving Simon's malls and weekly activity at Woodbury Common Premium Outlets in New York.
2020
Simon Property Group sues Eddie Bauer over unpaid rent
Simon Property Group filed a lawsuit against Eddie Bauer seeking $6.2 million in missed rent payments. The article reports that Eddie Bauer had not paid rent since April, according to court records.
2020
Simon terminates proposed Taubman acquisition
Simon Property Group pulled out of its proposed $3.6 billion acquisition of Taubman Centers. Taubman called the termination invalid and said it would contest Simon's claims.
2020
Simon Property Group sues Gap over store rent
Simon Property Group sued Gap, alleging the retailer owed three months of rent totaling $65.9 million for stores temporarily closed during the coronavirus pandemic.
2020
Simon Property Group withdraws 2020 financial guidance
Simon Property Group said it was withdrawing its previously issued full-year 2020 guidance for estimated net income per share, FFO per share and comparable property NOI growth.
2020
Simon Property Group temporarily closes U.S. properties
Simon Property Group announced that it would temporarily close all of its U.S. retail properties, Premium Outlets and Mills starting March 18, with the measure scheduled to end March 29, to help reduce the spread of COVID-19.
2020
Three investors announce acquisition of Forever 21 stakes
Authentic Brands Group and Simon Property were reported to be acquiring 37.5% stakes each in Forever 21, while Brookfield Property was to acquire a 25% stake; the three parties were to contribute a total of $81.1 million.
2020
Forever 21 acquired by three companies
A report said Authentic Brands Group, Simon Property Group Inc., and Brookfield Property Partners LP acquired Forever 21. Authentic Brands Group and Simon Property Group were to own 37.5 percent, and Brookfield Property Partners the remaining 25 percent, of the business.
2020
Simon Property Group proposes acquiring an 80% stake in Taubman Centers
Simon Property Group proposed acquiring 80% of Taubman Centers at $52.50 per share. Taubman’s board approved the deal, which remained subject to shareholder approval and other closing conditions.
2020
Bankruptcy court approves consortium's Forever 21 acquisition deal
A U.S. bankruptcy court approved an $81.1 million deal for a consortium comprising Simon Property Group, Authentic Brands Group and Brookfield to acquire Forever 21. The report does not say that the acquisition has been completed.
2019
Bitstop partners with Simon Property Group to deploy bitcoin ATMs
Bitstop announced a partnership with Simon Property Group to bring bitcoin ATMs to shopping destinations; Bitstop said it had installed ATMs at five malls.
2019
Pinstripes and Simon Property Group announce partnership
Pinstripes announced a partnership with Simon Property Group that includes leases for three future locations in Simon’s portfolio and a minority equity investment in Pinstripes. The parties also identified other potential locations for future announcement.