Simon Property Group's results for the third quarter were highlighted by generating higher than expected funds from operation (FFO) of $1,081,000 or $3.05 per share. Chairman and CEO David Simon noted the Indianapolis-based real estate investment trust was able to achieve the higher than expected FFO despite several unanticipated retailer bankruptcies and reduced property-level net operating income stemming from the REIT's decision to accelerate the number of properties undergoing significant redevelopment and new projects.
Top Mall REIT Funding Aggressive Redevelopment to Attract Shoppers
Simon Property Group Expects to Spend $1 Billion to $1.5 Billion in New and Redevelopment Costs Each Year
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IN THIS ARTICLE
- Properties
- Life Time
250 Southdale Ctr, Edina, MN
- Tulsa Premium Outlets
801 Outlet Dr, Jenks, OK
- Von Maur
4 Orland Square Dr, Orland Park, IL
- Companies