Simon Property Group Inc., headquartered in Indianapolis, stands as a major player in the retail real estate sector, holding a vast portfolio of upscale malls, outlet centers, and vibrant lifestyle destinations across North America, Asia, and Europe. Back in 2016, Simon took a strategic step by investing in the retail operations of popular brands, like Reebok, Aeropostale, Nautica, and Forever 21, through collaborative ventures such as SPARC and ABG. However, following the shifts brought by the pandemic, Simon reevaluated these investments as shoppers gradually returned to physical retail spaces. By 2023, the company began divesting its retail brand interests, culminating in the sale of its remaining stake in ABG brands a year later in 2024. Despite these changes, Simon continues to maintain significant joint venture stakes, including an 84% share in the Taubman Group, 22% in Paris-based real estate company Klepierre, and its involvement in SPARC. Additionally, Simon operates Simon Brand Ventures, offering expertise in appraisals and real estate services.
As of the close of 2024, Simon’s portfolio was impressive, with ownership or interests in roughly 233 properties, encompassing about 12 million square feet internationally and 170 million square feet domestically. In the preceding year, Simon’s revenues were just shy of $6 billion, with around 60% derived from joint venture interests. By the end of 2024, around 82% of the portfolio was…
