Simon® Completes Acquisition of Remaining Interest in Taubman Realty Group

On November 3, 2025, Simon®, the prominent real estate investment trust (REIT), announced a significant milestone by finalizing its acquisition of the remaining 12% interest in The Taubman Realty Group Limited Partnership (TRG). This acquisition was executed with an exchange of 5.06 million limited partnership units in Simon Property Group L.P.

David Simon, the Chairman and CEO of Simon®, expressed his satisfaction with the closure of this deal. He highlighted that the acquisition will be beneficial for Simon, as it aligns perfectly with their strategic objective of owning top-tier assets. Furthermore, it is expected to enhance operational efficiencies and fuel further innovations within the company. David Simon stated, "We are well-positioned to capitalize on new growth opportunities, increase net operating income, and deliver long-term returns to our shareholders."

This acquisition marks a critical step in Simon's journey. With full ownership of TRG, Simon is set to have more control over its operations and future projects, which could lead to more robust outcomes for the shareholders. Simon also took the opportunity to extend his gratitude toward Bobby and Billy Taubman, along with the entire TRG team, emphasizing the successful partnership they had cultivated over the previous five years.

Robert Taubman, Chairman and CEO of Taubman Realty Group, reflected on their 75-year legacy and the contributions made by both the past and present teams. He thanked Simon and his crew for their collaborative efforts, expressing optimism about the future as significant shareholders of Simon. The sentiment of partnership and continuity was echoed, as both parties look forward to enhancing their mutual objectives moving forward.

Implications of the Acquisition

The acquisition has several implications for the real estate market and the stakeholders involved:

1. Strategic Expansion: By acquiring the remaining interest in TRG, Simon enhances its portfolio of premier shopping, dining, and entertainment destinations, securing a stronger market position amid competition.

2. Operational Synergies: Full ownership allows Simon to unlock greater operational efficiencies. By streamlining processes and resources, they can enhance overall productivity and profitability.

3. Growth Opportunities: Simon aims to leverage its complete ownership of TRG to target new growth avenues effectively. This could involve new projects, expansions, and innovations in their service offerings that meet evolving consumer preferences.

4. Investment Value: For shareholders, the move is expected to be accretive, potentially increasing net operating income and driving long-term returns, encouraging investor confidence in Simon’s future prospects.

Future Outlook

Looking ahead, Simon must navigate various market challenges, including a competitive retail environment shaped by e-commerce trends, economic fluctuations, and potential shifts in consumer behavior. Additionally, factors such as inflation, changes in leasing dynamics, and geopolitical tensions could impact the overall retail landscape.

Simon has acknowledged this reality and is committed to addressing inherent risks while capitalizing on opportunities that align with its strategic growth mission. The integration process of TRG will likely be under close scrutiny as Simon works to seamlessly blend operations for optimal performance.

In summary, Simon®'s acquisition of TRG not only symbolizes investment growth but also reinforces their commitment to delivering unparalleled shopping and entertainment destinations while focusing on sustainable and innovative practices for a successful future.