Property Owner Simon Sees Buying Tenants as a Way to Boost Malls
Lauren
·
1 minute read
Simon Property Group Inc. is digging into its wallet to rescue another big tenant, a move that could help stabilize its mall business but one that raises new questions about the industry’s longer-term viability, analysts say. The biggest mall owner in the U.S. by number of malls is teaming up with Brookfield Property Partners, another large owner of shopping centers, in exploring a bid for J.C. Penney Co., according to a person familiar with the matter. The department-store chain filed for bankruptcy in May.