Business

Mall operator becomes biggest real estate company

Posted May 07, 2012 10:44 am

Associated Press

INDIANAPOLIS — The nation’s largest shopping mall operator is now also the world’s largest real estate company.

Indianapolis-based Simon Property Group this month is listed at No. 1 on the FTSE EPRA/NAREIT Global Real Estate Index. John Barwick of the National Real Estate Investment Trust said Monday that’s based on the company’s gross equity market capitalization of $45.9 billion as of May 4.

The Indianapolis Business Journal reports Yahoo Finance estimated Simon’s enterprise value at $65 billion. Simon says that’s a low estimate and it’s really worth about $85 billion. Enterprise value includes additional factors besides market capitalization.

The IBJ reports Simon is the only real estate company listed on the Standard & Poor’s 100 Index, a listing of the nation’s largest and most established companies including Apple, Coca-Cola and McDonald’s.

The company has at least 20 properties in Illinois, including Gurnee Mills.

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