August 28, 2016 10:31 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of Simon Property Group, L.P.

Company Overview

Simon Property Group, L.P. engages primarily in the ownership, operation, leasing, management, acquisition, expansion, and development of real estate properties. The company’s real estate properties consist primarily of regional malls and community shopping centers. As of December 31, 2003, it owned an interest in 245 properties in North America, which consisted of 174 regional malls, 67 community shopping centers, and 4 office and mixed-use properties in 37 states and Canada. In addition, the company also owned interests in three parcels of land. It also had ownership interests in 47 assets in Europe, including France, Italy, Poland, and Portugal. The company was formed in November 1993 as ...

225 West Washington Street

Indianapolis, IN 46204

United States

Founded in 1993

3,150 Employees

Phone:

317-636-1600

Fax:

317-685-7270

Key Executives for Simon Property Group, L.P.

Chief Executive Officer of Simon Property Group Inc. - General Partner and Director of Simon Property Group Inc. - General Partner
Age: 55
President of Simon Property Group Inc. - General Partner, Chief Operating Officer of Simon Property Group Inc. - General Partner and Director of Simon Property Group Inc. - General Partner
Age: 66
Chief Financial Officer of Simon Property Group Inc and Senior Executive Vice President of Simon Property Group Inc
Age: 60
Principal Accounting Officer of Simon Property Group Inc. - General Partner and Senior Vice President of Simon Property Group Inc. - General Partner
Chief Operating Officer of Operating Properties of Simon Property Group Inc. - General Partner and Executive Vice President of Simon Property Group Inc. - General Partner
Age: 59
Compensation as of Fiscal Year 2016.

Simon Property Group, L.P. Key Developments

Simon Property Group, L.P. Announces Unaudited Consolidated Earnings Results for the Nine Months Ended September 30, 2015

Simon Property Group, L.P. announced unaudited consolidated earnings results for the nine months ended September 30, 2015. For the six months, the company reported pre-tax income from continuing operations of $1,692,897,000 against $1,166,251,000 a year ago. Earnings were $2,163,609,000 against $2,044,569,000 a year ago. Loss from unconsolidated entities was $426,555,000 against $168,473,000 a year ago.

Simon Property Group LP Plans to Sell $1.35 Billion of Senior Notes

Simon Property Group Inc. said Jan. 8 that its majority owned operating partnership, Simon Property Group LP, plans to sell $1.35 billion of senior notes. The offering will consist of two tranches of notes: $550 million of 2.50% senior notes due July 15, 2021, and $800 million of 3.30% senior notes due Jan. 15, 2026. The operating partnership plans to use the net proceeds to retire outstanding mortgage loans on three properties, to fund a redemption of its 6.10% notes due 2016 and to partially pay back borrowings under its $4.0 billion unsecured revolving credit facility. The offering is expected to close Jan. 13.

Simon Property Group to Redeem All Outstanding 6.125% Notes Due 2018 and 7.375% Notes Due 2018

Simon Property Group Inc. announced that its majority-owned operating partnership subsidiary, Simon Property Group, L.P., provided notice to redeem all $800 million in aggregate principal amount of its outstanding 6.125% Notes due 2018 (CUSIP No. 828807 BZ9) and all $200 million in aggregate principal amount of its outstanding 7.375% Notes due 2018 (CUSIP No. 828783 AT7). The redemption date for the Notes will be December 21, 2015. The 6.125% Notes will be redeemed at a redemption price of $1,115.95 per $1,000 principal amount of the 6.125% Notes, representing 100% of the aggregate principal amount of 6.125% Notes being redeemed, accrued and unpaid interest thereon to the Redemption Date and a make-whole amount calculated in accordance with the indenture governing the 6.125% Notes. The 7.375% Notes will be redeemed at a redemption price of $1,149.08 per $1,000 principal amount of the 7.375% Notes, representing 100% of the aggregate principal amount of 7.375% Notes being redeemed, accrued and unpaid interest thereon to the Redemption Date and a make-whole amount calculated in accordance with the indenture governing the 7.375% Notes. The total principal amount of the Notes that will be redeemed on the Redemption Date is $1.0 billion with a weighted average interest rate of 6.375% and a weighted average remaining term of 2.5 years. A charge of approximately $121 million or $0.33 per share, to net income and Funds from Operations is expected to be recorded in the fourth quarter of 2015 in connection with the redemption.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 1, 2015
The Shops at Sunset Place
 

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