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🠈  Simon Property Group  🠊

Simon Property Group

Simon Property Group, (NYSE: SPG) is a real estate investment trust (REIT) based in Indianapolis which currently owns many destination shopping malls.

In 1960, three brothers (Melvin Simon, Cowell Simon, and Herbert Simon) began developing shopping centers. SPG was created as a publicly traded company from properties owned by Melvin Simon & Associates.

The company grew through acquistion and strategic partnerships. The most notable acquisition was the 2007 purchase of Mills Corporation which developed "super-regional shopping malls" that usually included the word Mill in the name.

The acquisition of Mills Corporation led to a decision to spin off the portfolio of smaller malls into a new REIT called Washington Prime Group in 2013.

Simon uses subdirectories of its main site for the premium malls in its portfolio and uses the site Premium Outlets for the outlet malls that it owns.

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