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Simon to Spin Off Strip Centers and Smaller Malls Into Separate REIT


A week after Australian trust the Westfield Group announced it was splitting its properties into two separate companies, the largest American retail REIT Simon Property Group announced it plans to pursue a similar strategy, according to Bloomberg Businessweek. Simon will create a separate REIT currently christened SpinCo to hold 54 strip centers and 44 of its smaller regional malls. The new company is expected to generate annual net income of more than $400 million. Simon executives believe ... Freemium Content

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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