Simon® Acquires Remaining Interest in Taubman Realty Group

Core Viewpoint - Simon Property Group has acquired the remaining 12% interest in The Taubman Realty Group Limited Partnership for 5.06 million limited partnership units, which is expected to be accretive to Simon and aligns with its strategy of owning high-quality assets and driving innovation [1]. Group 1: Acquisition Details - The acquisition of the remaining interest in TRG allows Simon to fully capitalize on new growth opportunities and increase net operating income [1]. - The transaction was finalized with the exchange of 5.06 million limited partnership units in Simon Property Group L.P. [1]. Group 2: Leadership Statements - David Simon, Chairman and CEO, expressed satisfaction with the transaction, highlighting its alignment with the company's strategic goals [1]. - Robert Taubman, Chairman and CEO of TRG, acknowledged the successful partnership over the past five years and expressed commitment to being significant shareholders in Simon [1]. Group 3: Company Overview - Simon is a real estate investment trust focused on premier shopping, dining, entertainment, and mixed-use destinations, and is part of the S&P 100 [3]. - The company operates properties across North America, Europe, and Asia, generating billions in annual sales [3].