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 ...
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