Overview of Simon Property Group, a real estate investment trust based out of Indianapolis, IN. Gives very detailed info on the co.

Essay by jpiercefUniversity, Bachelor'sA+, March 2003

download word file, 6 pages 3.7

Although Simon Property Group, Inc. (SPG) is a Delaware corporation, the company calls Indianapolis, Indiana its home and has made the city very proud. The real estate investment trust currently owns and/or operates over 248 properties in 36 U.S. states and 8 locations in Europe and Canada, with a key focus in shopping malls. SPG has experienced enormous growth in the past 40 years, primarily due to their commitment to asset quality, financial management, customer service, and internal team building.

Since the company's conception in 1960, SPG has been controlled predominantly by the Simon family. Currently, David Simon, son of one of the firm's creators Melvin Simon, holds the honor of Director and Chief Financial Officer. The rest of the firm's responsibility is divided as follows:

ľStephen E. SterrettExecutive Vice President, Chief Financial Officer

ľRichard S. SokolovPresident and Chief Operating Officer

ľJohn RulliSenior Vice President, Administration

ľStewart StockdaleChief Marketing Officer

ľHerbert SimonChairman of the Board

ľMelvin SimonChairman of the Board

The Simon and DeBartolo families, whose companies marked the first merger of SPG, hold significant portions of common stock in the company, in addition to the public stockholders and company executives.

Interest in the company is sold publicly on the New York Stock Exchange in the form of common shares under the symbol "SPG." The company also sells Series B convertible and cumulative redeemable preferred stock under the symbols "SPGPrB" and "SPVPrB" respectively.

According to CEO David Simon, "Simon Property Group's mission is to be the leading developer, owner and manager of retail real estate in North America through the creation and continual enhancement of shareholder value in a high-quality portfolio of premier properties." What was once merely a vision to Simon founder, Melvin Simon, SPG has developed into "the largest retail real...