Melvin Simon and Associates
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| Public | |
| Traded as | |
| Industry | Real estate investment trusts |
| Genre | |
| Founded | 1993 |
| Founder | |
| Headquarters | Indianapolis, Indiana, U.S. |
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Number of locations
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Key people
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| Revenue |
 USD$ 5.171 billion (2014) |
 USD$ 1.32 billion (2014) |
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| Total assets |
USD$ 33.325 billion (2014) |
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Number of employees
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5,000+ (2010) |
| Subsidiaries | Simon Malls Premium Outlets The Mills Kravco (80%) Klépierre (29.8%) |
| Website | simon |
Simon Property Group, Inc. is an American commercial real estate company in the United States and the largest real estate investment trust (REIT). It is also the largest shopping mall operator in America.
The company 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 more than 325 properties comprising approximately 241,000,000 square feet (22,400,000 m2) of gross leasable area in North America and Asia. The company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. It is publicly traded on the NYSE under the symbol SPG and is part of the S&P 100.
Simon Property Group has been the subject of several lawsuits and investigations regarding civil rights and discrimination.
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, Cowell 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 properties held by IBM's pension plan in 1997 and Corporate Property Investors (CPI) in 1998. Following the CPI acquisition in 1998, the company announced it was reverting to its original name, Simon Property Group, as the DeBartolo family was resuming its private real-estate development operation, while retaining their interest in Simon.
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Wikipedia