(NYSE: SPG) and its operating partnership, Simon Property Group, L.P., including the Long-Term Issuer Default Ratings (IDRs) to A- from A. The company operates malls, outlets, community and lifestyle centers, and other retail properties. It owns, develops, and manages shopping, dining, entertainment, and mixed-use destinations. Simon Property Group was formed in 1993 when the majority of the shopping center interests of Melvin Simon & Associates became a publicly traded company. Its base minimum rent per square foot was $55.13, which is 2.3 percent higher than the year prior. Fitch Ratings - New York - : Fitch Ratings has downgraded the ratings of Simon Property Group, Inc. Simon Property Group is a company that specializes in commercial real estate. Earlier this month, the company said its portfolio’s occupancy rate was at 95 percent by the end of the fourth quarter last year, up 1.5 percent compared to 2021. Simon Property Group, a real estate investment trust based in Indianapolis, is the largest shopping mall operator in the country, and it manages shopping, dining, entertainment and mixed-use properties around the world. Simon Property Group, a global leader in the ownership of 325 premier shopping, dining, entertainment, and mixed-use destinations and an S&P 100 company. The mall is near the junction of Crown Valley Parkway and Interstate 5. The mall at 555 The Shops Boulevard is anchored by Macy’s and Nordstrom, and there are no looming lease expirations among the top tenants. But there are “serious headwinds in the market to refinance this asset … market is tough as you can imagine,” Trepp said, citing watchlist comments from late last year. Simon Property Group (SPG), the largest mall owner and developer in the U.S., posted strong second quarter (Q2) results on Wednesday (Aug. However, FFO rebounded in 2021, rising 31 to. (NYSE:SPG) is an S&P 100 company and the largest real estate company in the world. Trepp reported the shopping mall was valued at $543 million at securitization. Simon's funds from operations (FFO) declined significantly by 24.3 in 2020 to 9.11, which is remarkable considering the extent of store shutdowns. Simon officials did not return requests for comment and more information. SEE ALSO: Treasury Yields’ 16-Year High Holds Both Worry and Promise for Real Estate
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