Simon Property to manage the Galleria - Puget Sound Business Journal (Seattle):

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Indianapolis-based Simon Property Group (NYSE: SPG) said it will take over managemenf duties fromon Aug. 1. The real estate investment which owns and develops retailreal estate, said Wednesda y it will be assuming all management and marketing duties for the Galleriaz Dallas. "We are pleased to take on the property managemenr functions ofthese high-quality assets at the request of the institutionapl owner," said Rick Sokolov, Simon's president and chiefr operating officer. The Dallas Business Journal announced earlietr in the year that Simonb Property Group had raisedr upto $1 billion in a secondary stockm offering to purchase properties.
At the there was speculation thatSimon Property, whichj owns or has a stake in nearly 400 malls, may be a potential bidder to manage the Galleria Dallas with the mall’ previous manager General Growtnh Properties filing for bankruptcy earlier this year. Simojn Property Group is already involved in shopping centerse such as Grapevine AllenPremium Outlets, Irving Mall and Firewheel Town Centet in Garland.