Posted: Dec 8, 2009 8:23 AM
Updated: Dec 8, 2009 8:23 AM
INDIANAPOLIS (AP) - Outlet mall developer Simon Property Group Inc. says it will buy the outlet shopping centers owned by Prime Outlets Acquisition Co. and other properties, including Prime Outlets Pismo Beach.
The $2.3 billion deal includes assumption of Prime Outlets' debt and preferred stock.
Prime Outlets owns, manages, operates and develops 22 outlet centers in major metropolitan areas including Washington, Baltimore and Orlando.
Once the deal is completed, Simon will have 63 centers with
about 25 million square feet.
Simon Property shares rose 93 cents to $74.83 in morning
(Copyright 2009 by The Associated Press. All Rights Reserved.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at firstname.lastname@example.org, and include the name of the story and information on the comment.
Thank you! KSBY.com
Get deals up to 80% off here!
Find the lowest gas prices in your area
Submit your photos to KSBY
Check out our calendar of events
Watch Daybreak Web Videos in full
Save with Hot Deals across our counties!
Events across the Central Coast
Follow The CW5 on Facebook.
The KSBY online public file.
What do you think? Leave us your feedback.
KSBY is your official CA Lottery station for San Luis Obispo and Santa Barbara Counties