Simon Property Group

Management is upgrading the asset base and simplifying non‑core stakes. 2025 moves included acquiring the remaining interests in Miami’s Brickell City Centre retail and parking and buying two Italian The Mall Luxury Outlets, both high‑barrier, luxury‑oriented nodes.

Simon exited its remaining Authentic Brands stake in Q1‑24 for ~$1.2 billion, while SPARC combined with JCPenney to form Catalyst Brands, reducing risk and clarifying exposures. The board also maintains a $2.0 billion repurchase authorization and has been raising the dividend.

Track record is strong, though retailer platform investments have introduced episodic volatility.