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Simon Property Group
David Simon
Chief Executive Officer




2006 Gross Revenues: $ 3.3 billion
2007 Projected Revenues: $x.x billion
Total Portfolio Size: 258 million sq. ft.
Total Value of Portfolio: $ 50.0 billion
Number of Offices: 379
Number of Employees: 5,000
Since its initial public offering in 1993, Simon Property Group has grown its business through a series of acquisitions, redevelopments and new development to become the largest public owner of retail real estate in the US. The firmcurrently owns or has an interest in 378 properties in North America, Europe and Asia. “How we allocate capital between internal growth and external growth is really a function of where we get our best risk-adjusted returns,” says Richard Sokolov, president and chief operating officer. Some of its more high-profile deals include its $5.8-billion acquisition of Corporate Property Investors in 1998, the 2004 buyout of Chelsea Property Group for $3.5 billion and, most recently, its April 2007 deal to acquire the Mills Corp. for $7.9 billion. Continuing to build its business, this Indianapolis, IN-based REIT is also expanding its properties to include other property types. Sokolov explains that the firm teams up with established developers to build office, hotel or multifamily space within Simon projects. For example, the REIT has incorporated multifamily components within its Firewheel Town Center in Garland, TX and the Domain in Austin, TX. “In each of those instances, we partnered with a very established residential developer, who brings the expertise to make sure that we get an affective return on our capital.” An S&P 500 company, Simon operates from five retail platforms: regional malls, premium outlet centers, community/lifestyle centers, the Mills and international properties.